Super Micro Computer said an independent Special Committee found no evidence of fraud or misconduct by senior management or the company’s Audit Committee related to its financial statements. The review, announced on December 2, 2024, examined more than 4.1 terabytes of data, conducted 68 interviews and assessed 52 sales transactions from April 2023 to June 2024 that had been flagged by former auditor EY. Investigators found no discrepancies contradicting the company’s stated revenue recognition practices and no evidence that Super Micro tried to circumvent export controls or divert products to prohibited destinations. The findings helped drive a 14% to 29% jump in Supermicro shares. The company has faced accounting scrutiny since 2018, and the SEC charged it with accounting violations in 2020. EY resigned in October 2024 after raising concerns about the reliability of Supermicro’s financial reporting. The Board followed the committee’s recommendations by appointing a new Chief Accounting Officer and beginning a transition to a new Chief Financial Officer.