Shares of Super Micro Computer (SMCI), or Supermicro, dropped 15% to lead 澳洲幸运5官方开奖结果体彩网:S&P 500 decliners Thursday on a report that the U.S. Department of Justice (DOJ) is investig🦩ating the server🦹 maker over possible accounting and other violations.

The Wall Street Journal reported that the probe came after well-known 澳洲幸运5官方开奖结果体彩网:short seller Hindenberg Research 澳洲幸运5官方开奖结果体彩网:claimed last month that it saw "fresh evidence of 澳洲幸运5官方开奖结果体彩网:accounting manipulation, sibling self-dealing and sanctions evasion" at Supermicro. 

Hindenberg said in the report that it uncovered "glaring accounting red flags, evidence of undisclosed 澳洲幸运5官方开奖结果体彩网:related party transactions, sanctions and export control failur𒆙es, and customer issueꦺs."

Looking Into Supermicro W꧂histleblower Accusations

The paper said that the investigation is in its early stages, and that a prosecutor in the U.S. attorney's office in San Francisco has contacted people who might have relevant information.

It added that officials appear to be looking into accusations from a former employee who filed a whistleblower lawsuit against the company and 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Charles Liang in April, charging Supermicro with 澳洲幸运5官方开奖结果体彩网:improper accounting. 

Last month, Supermicro announced that it would 澳洲幸运5官方开奖结果体彩网:delay the release of its annual report, saying that management needed additional time "to complete its assessment of the design and operating effectiveness of its 澳洲幸运5官方开奖结果体彩网:internal controls over financial reporting as of June 30, 2024."

Supermicro didn't respond to an Investopedia request for comment.

Super Micro Computer shares hit an 澳洲幸运5官方开奖结果体彩网:all-time high in March, quadrupling in value for the year at that point as the company benefited from the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) boom. However, the stock has lost ground since, although it remains up about 38% in 2024. Recently, shares were o⛦ff 15% at $387.21 each.