Super Micro Computer's shares plunge after accounting firm resigns

Shares of Super Micro Computer plunged more than 30% Wednesday morning, after the server maker disclosed that Ernst & Young had resigned as its public accounting firm. According to a regulatory filing from Super Micro, EY resigned while conducting an audit for the tech company’s most recent fiscal year. The accounting firm communicated concerns in July over issues like transparency and internal controls related to financial reporting, according to the company. Super Micro noted that it disagreed with EY’s resignation, but recognized the decision was final. The accounting firm’s resignation arrives just two months after short-selling firm Hindenburg Research released a report alleging ample accounting manipulation at Super Micro.