Super Micro Computer (NASDAQ:SMCI) is reportedly under investigation by the U.S. Department of Justice (DOJ) for alleged accounting violations.
The investigation comes on the heels of a critical report released by activist short-selling firm Hindenburg Research, according to a report from the Wall Street Journal.
Following the news, trading of Super Micro Computer's shares was briefly halted but has since resumed.
The company's stock price plummeted over 12% to $397.55 during the afternoon trading session.
Hindenburg Research, known for its in-depth investigative reports on publicly traded companies, accused Super Micro Computer of accounting irregularities that inflated its financial performance.
The specifics of the alleged violations have not been disclosed publicly.
Meanwhile, Super Micro Computer has not yet released an official statement regarding the DOJ investigation or the allegations made by Hindenburg Research.