Super Micro surges as AI server maker hires new auditor, seeks filing extension

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Shares of Super Micro Computer soared nearly 30% in premarket trading on Tuesday, after the server maker sought an extension from Nasdaq for its delayed financial filings and appointed a new auditor as it looks to avoid being delisted. Super Micro announced the appointment of BDO USA as its independent auditor, effective immediately, less than a month after Ernst & Young resigned after it raised concerns about the company’s governance, transparency and internal control over financial reporting. “BDO’s arrival comes just in the nick of time to satisfy the Nasdaq’s 60-day deadline to file a compliance plan but even if that plan is accepted the real test will be when those delinquent accounts (quarterly and annual reports) finally see the light of day,” said Danni Hewson, head of financial analysis at AJ Bell.