WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) said on Tuesday that it has charged a computer server producer, Super Micro Computer, Inc. (O:) and a former chief officer, with prematurely recognizing revenue and understating expenses.
The San Jose, California-based firm and the former chief financial officer, Howard Hideshima, did not admit or deny the SEC’s charges, the agency said in an order.
“Super Micro’s CEO, Charles Liang, while not charged with misconduct, is required to reimburse the company $2.1 million in stock profits that he received while the accounting errors were occurring,” the SEC said.
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