Super Micro shares tumble 12% after DOJ reportedly opens probe into company

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Super Micro shares tumbled Thursday after the Department of Justice opened a probe into the company

, according to a report from The Wall Street Journal.

The probe comes after Hindenburg Research disclosed a short position in the company in August, alleging “fresh evidence of accounting manipulation.”shares fell more than 12% on Thursday after the Justice Department reportedly opened a probe into the company, which has been a major beneficiary of thereport

A prosecutor in the U.S. attorney's office in San Francisco has asked for information about a former employee that has previously accused Super Micro of accounting violations, according to the Journal.its annual report for the fiscal year with the U.S. Securities and Exchange Commission on time, sending shares tumbling nearly 20%. It is not clear if the delay was related to the firm's report.

 

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