Super Micro Computer is postponing the filing of its 10-K annual report for 2024. The company does not comment on rumours or speculation. However, the delay in filing the 10-K is no longer mere speculation. Hindenburg Research has raised concerns about Super Micro's corporate governance, and there appears to be some truth to these allegations.
Super Micro has already been delisted from NASDAQ for similar reasons. The fact that they have not yet resolved these issues is problematic. This new delay in filing the 10-K, the second in five years, raises questions about the company's management.
Super Micro needs to resolve these issues to improve its risk profile. It is not yet clear whether this will require a major overhaul of the financial statements or operational changes. Either way, the company will probably have to strengthen its financial controls, which will entail additional costs.

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