Though this happened earlier in the week, I just now found out about it. Given how well-known the company is, I thought other Soylentils would like to know about this, too.
Supermicro® Announces Suspension of Trading of Common Stock on Nasdaq and its Intention to Appeal:
Super Micro Computer, Inc. (NASDAQ:SMCI) [...] today announced that, as expected, the Company received a notification letter from The Nasdaq Stock Market Hearings Panel [...] on August 22, 2018, indicating that trading in the Company's common stock on Nasdaq's Global Select Market will be suspended effective at the open of business on August 23, 2018.
The Company previously announced on August 21, 2018 that it did not expect to regain compliance with the Nasdaq continued listing requirements by August 24, 2018, the deadline previously set by the Panel.
The Panel's letter also stated that the Panel has determined to delist the Company's shares from Nasdaq after applicable appeal periods have lapsed. The Company intends to appeal the Panel's decision to the Nasdaq Listing and Hearing Review Council. During the appeal period, trading in the Company's common stock on Nasdaq will remain suspended and Nasdaq will not delist the Company's common stock pending such appeal. Once the Company has regained compliance with its SEC filing requirements, the Company intends to promptly request that Nasdaq lift the suspension in trading of its common stock or, in the event the common stock is delisted, to promptly apply to relist its common stock on Nasdaq or another national securities exchange.
While the Company's common stock is suspended from trading on Nasdaq, the Company expects that its shares will be quoted on the OTC Markets under the trading symbol SMCI.
According to Wikipedia:
Super Micro Computer, Inc (commonly referred to as Supermicro) is an American information technology company based in San Jose, California. Supermicro's headquarters are located in Silicon Valley, with global operations expanding to a manufacturing space in the Netherlands and a Science and Technology Park in Taiwan.
Founded by Charles Liang, Wally Liaw and Sara Liu on 1 November 1993, Supermicro specializes in servers, storage, blades, rack solutions, networking devices, server management software and high-end workstations for data center, cloud computing, enterprise IT, big data, high performance computing (HPC), and embedded markets.
In 2016, the company deployed thousands of servers into a single data center and was ranked the 18th fastest growing company on Fortune Magazine's Top 100 list of the world's largest US publicly traded companies in 2016 and the fastest growing IT infrastructure company.
Also at Silicon Valley Business Journal, Yahoo! Finance & The Register.
(Score: 2) by All Your Lawn Are Belong To Us on Tuesday September 04 2018, @07:24PM
IIRC, IANAL, and I could be wrong, but I'm pretty sure that releasing all statements, even with a disclosure that major restatements will be occurring, is preferable to not releasing complete financials. The former fully informs the investment community and cautions it, the latter is trying to get away with something.
This sig for rent.