Super Micro Finds No Evidence of Fraud; Will Replace CFO (3)

Super Micro Computer Inc. said an independent review of its business found no evidence of misconduct but recommended that the server maker appoint new top financial and legal leadership.

A review by a special board committee, alongside attorneys from Cooley LLP and forensic accounting firm Secretariat Advisors, found “no evidence of misconduct on the part of management or the board of directors and that the audit committee acted independently.”

As a result of the findings, the committee recommended Super Micro install a new chief financial officer, chief compliance officer, and general counsel, it said in a ...