Supermicro shares jumped on a plan to avoid being delisted from the Nasdaq.

The server maker said that it had appointed BDO USA as its independent auditor, effective immediately, less than a month after EY resigned.

Supermicro logo on a workstation
– Supermicro

EY said it was “unwilling to be associated with the financial statements prepared by management.”

The auditor said that "information has recently come to our attention which has led us to no longer be able to rely on management’s and the audit committee’s representations."

Supermicro has yet to issue its financial statements for this year, delaying them a day after short-seller Hindenburg Research claimed that it found evidence of related party transactions that had not been disclosed, a failure to abide by export controls, and other issues.

It had until this week to file a compliance plan to avoid a Nasdaq delisting - which still needs to be accepted by the exchange.

Should that happen, its filing deadline could be extended until February.

Supermicro was temporarily delisted in 2018 for failing to file financial statements, and in 2020 was fined by the SEC for “widespread accounting violations."