Even while CEO Charles Liang expressed hope that Super Micro Computer’s (NASDAQ:SMCI) stock will continue listed on the Nasdaq, shares of the business plummeted more than 5% Tuesday.
On Friday, Nasdaq wrote the business a letter extending an extension until February 25, 2025, to file its fiscal 2024 annual report on Form 10-K, its quarterly report on Form 10-K for the period ending Sept. 30, 2024, and any other required filings. Super Micro assured its common stock remains listed during the extension period and that it expects to reach the deadline.
An independent special committee assigned by Super Micro earlier in December turned uncovered no evidence of board or audit committee misdemeanor by the business. But the committee advised changes in leadership, which resulted in the nomination of Kenneth Cheungformerly vice president of financeas the new chief accounting officer. The firm also intends to name general counsel, chief compliance officer, and new chief financial officer.
This article first appeared on GuruFocus.
