Super Micro Says Top Management Didn’t Know of Diversion Scheme

Super Micro Computer Inc. completed an independent investigation into its export compliance program, with the investigation team concluding the company’s senior managment had no knowledge of an alleged diversion scheme involving Nvidia Corp. chips.

The independent investigation did not find evidence of direct sales to restricted parties, or anything that would suggest the company’s previously issued financial statements could not be relied upon based on said potential diversion of restricted products. The company took several personnel actions, including terminations, it said in a statement Thursday.

Independent directors made recommendations to further enhance the company’s export compliance program, which the board adopted in full.

US prosecutors charged a Super Micro co-founder and two others with illegally diverting billions of dollars in Nvidia-powered servers to China in violation of export-control laws. The trio allegedly sold the hardware to a Southeast Asian company and coordinated its ultimate shipment to Chinese customers. All three have pleaded not guilty.

Super Micro shares rose as much as 5.9%.