Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Chase’s Points Boost on Flights Is a Massive Points Bust

July 1, 2025

Looking for an income stream for decades? Here’s how to emulate the Bobby Bonilla plan to get paid over time

July 1, 2025

What’s next for the ‘big, beautiful bill’?

July 1, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Tuesday, July 1
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Stock Market»Super Micro Plunges After Report of Justice Department Probe
Stock Market

Super Micro Plunges After Report of Justice Department Probe

September 26, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

(Reuters) – Super Micro Computer Inc. saw a significant drop in its stock price following reports that the US Justice Department is investigating the server manufacturer over concerns raised in a recent short seller report questioning the company’s financial practices.

The investigation, as reported by the Wall Street Journal, includes efforts by a prosecutor at the US attorney’s office in San Francisco to gather information from individuals with knowledge of the situation. This inquiry appears to be linked to allegations made by a former employee who accused Super Micro of accounting irregularities and had previously filed a whistleblower lawsuit against the company and its CEO.

Shares of Super Micro fell 12% to $402.40 at the close of trading on Thursday in New York, marking the largest decline since August 28, a day after the release of the critical report by short seller Hindenburg Research. Despite this drop, the stock has still seen a 42% increase in value so far this year.

Super Micro has chosen not to provide a comment on the matter, while the Justice Department has not responded to requests for comment.

In the August report from Hindenburg Research, concerns were raised about Super Micro’s accounting practices, related party transactions, export control failures, and customer relations.

— This article includes contributions from Chris Strohm and Ian King.

(Note: The closing share price has been updated in the third paragraph.)

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

Department Justice Micro Plunges probe Report Super
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Been a victim of annuity fraud? Here’s how to report scams

June 9, 2025

Amazon, other Big Tech stocks report strong earnings despite tariff tensions

May 9, 2025

Trump Urges GOP To Raise Taxes On The Wealthy To Fund Economic Agenda: Report

May 8, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Celestia [TIA] eyes $11.96 amid bullish momentum: Will it happen?

November 12, 20240 Views

NextEra reports growth, resilient grid investments

November 4, 20240 Views

AmEx Gold Card Hikes Annual Fee and Bonus, Adds Perks

July 28, 20240 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Personal Finance

Chase’s Points Boost on Flights Is a Massive Points Bust

July 1, 20250
Retirement

Looking for an income stream for decades? Here’s how to emulate the Bobby Bonilla plan to get paid over time

July 1, 20250
Economic News

What’s next for the ‘big, beautiful bill’?

July 1, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.