Super Micro Computer (SMCI) appointed DeAnna Luna as acting chief compliance officer. This appointment followed a 33% drop in the company's share price. The stock plunge occurred on March 20.
U.S. prosecutors charged co-founder Yih-Shyan Wally Liaw and two others with conspiring to smuggle advanced Nvidia AI chips to China. The indictment alleges a scheme to divert technology worth at least $2.5 billion. These actions allegedly violated U.S. export controls.
Liaw resigned from the board of directors after the charges were unsealed. Super Micro stated it is not a defendant in the case. The company is cooperating with the investigation and placed the indicted employees on leave.