Supermicro has told the Securities and Exchange Commission that it will not be able to file its quarterly report (Form 10-Q) on time.
Shares in the company fell sharply on the news, already down after the company missed the deadline for its 2024 Form 10-K annual report.
The server maker has until November 16 to submit a plan for the 10-K, or it could be delisted from the Nasdaq.
Last month, Supermicro's auditor EY said it was “unwilling to be associated with the financial statements prepared by management" and resigned effective immediately.
Supermicro was temporarily delisted in 2018 for failing to file financial statements and in 2020 was fined by the SEC for “widespread accounting violations."
Short-seller Hindenburg Research claims that most of the executives fired for being involved in the accounting scandal were rehired soon after. It also claimed that it found evidence of undisclosed related party transactions, a failure to abide by export controls, and other issues.
In September, the Wall Street Journal reported that the Justice Department had opened an investigation into the company.
Supermicro shares hit an all-time high in March as the largest seller of liquid-cooled servers for the generative AI market. However, the company's valuation has tumbled significantly since amid mounting financial scandals.
Shares are down 84 percent from that high point, and 35 percent year to date. They fell seven percent with this latest news.
In its filing to the SEC, Supermicro said that "the company is diligently working to select an independent registered public accounting firm" to replace EY.