[News] Supermicro Denies Short-Selling Claims, as its CEO Responds for the First Time After the Controversy

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According to a report from Reuters, on September 3, Supermicro denied the short-selling report from Hindenburg Research released the previous week, characterizing it as containing false or inaccurate statements about the company.

Supermicro stated that the report included misleading statements about information they previously disclosed, and the company plans to address these claims at the appropriate time, without providing further details.

As of now, Hindenburg has yet responded to the request for comment on Super Micro’s statement.

On August 27, AI server giant Supermicro was accused of accounting violations, inadequate disclosure of related party transactions, and evading sanctions by selling products to Russia by Hindenburg Research.

The following day, Supermicro also announced a delay in submitting its 2024 fiscal year 10-K annual report, citing the need for more time to assess the design of internal controls and operational effectiveness.

Hindenburg Research stated that it conducted a three-month investigation, including interviews with its former senior employees, as well as a review of litigation records, international corporate and customs records.

On the other hand, Supermicro reiterated that the delay in filing its fourth-quarter or fiscal year report will not result in any significant changes.

Supermicro President Charles Liang further emphasized that these events will not affect the company’s products or its ability to provide IT solutions, as its productivity remains unaffected and continues to operate at a pace that meets customer demands.

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(Photo credit: Supermicro)