Recent #SEC Fine news in the semiconductor industry

9 months ago
➀ Supermicro faced financial reporting issues in the past, including delayed filings and delisting in 2018 due to internal audit requirements. ➁ In 2020, the SEC fined Supermicro $17.5 million for improper accounting practices, including premature revenue recognition and underestimation of liabilities and expenses. ➂ CEO Charles Liang was required to return $2.1 million in stock gains during the improper accounting period, while the former CFO was fined and had to repay illegal gains.
Accounting ScandalCEOSEC Fine