Super Micro Computer, Inc concluded their settlement with the United States Securities and Exchange Commission (SEC), resolving an investigation into the Company’s financial accounting and disclosures for fiscal years 2014-2017. The company has already corrected for the effects of these matters in financial statements filed with the SEC.
The company will also pay $17.5 million civil penalty and the company agrees to cease from committing future violations. The company’s Chairman and CEO, Charles Liang, will also reimburse the company for $2.1 million pursuant to the claw back provisions of the Sarbanes Oxley Act of 2002.