Last mentioned: Mar 21, 2026
New Auditor Appointed
SMCI appoints a successor auditor to certify delayed financial reports and address internal control issues.
Financial Certification
A new auditor certifies FY 2024 financials but flags ongoing internal control weaknesses.
EY Resignation
Auditor Ernst & Young resigns, stating it can no longer rely on management's representations.
Auditor Resignation
Ernst & Young resigns as SMCI's auditor, stating they can no longer rely on management's representations.
Hindenburg Report
Short-seller Hindenburg Research releases a report alleging accounting fraud and sanctions evasion.
Hindenburg Report
Short-seller Hindenburg Research publishes allegations of accounting fraud and sanctions evasion.
S&P 500 Inclusion
The company is added to the S&P 500 index following a massive AI-driven rally.
S&P 500 Inclusion
Following a massive stock rally, SMCI is added to the S&P 500 index.
SEC Settlement
SMCI settles with the SEC over charges of overstating revenue and understating expenses.
SEC Settlement
SMCI and its former CFO settle charges related to revenue overstatement and expense understatement.
Super Micro Computer's rapid ascent to the S&P 500 has been overshadowed by a recurring pattern of accounting irregularities and governance failures. Following a 2020 SEC settlement and the 2024 resignation of auditor Ernst & Young, the company now faces intense scrutiny over its internal controls and alleged sanctions evasion.
Super Micro Computer faces renewed scrutiny over accounting practices and internal governance following the resignation of auditor Ernst & Young and a scathing short-seller report. The company's inclusion in the S&P 500 has amplified the systemic risk for millions of passive investors, highlighting potential gaps in index selection criteria for high-growth tech firms.