Super Micro Computer, Inc. (NASDAQ: SMCI) announced the completion of an internal investigation led by independent board members into a March 2026 federal indictment of two employees and a contractor accused of conspiring to commit export-control violations.

Supermicro was not named as a defendant in the indictment and faces no accusations of wrongdoing. The three individuals involved no longer have any relationship with the company.

The investigation was conducted by law firm Munger, Tolles & Olson LLP, with AlixPartners, LLP serving as an independent forensic accounting consultant. It was overseen by Lead Independent Director Scott Angel and Audit Committee Chair Tally Liu.

Investigators reviewed customer transactions cited in the federal indictment, as well as transactions with other customers who purchased restricted products. The investigation found no evidence that current senior management had knowledge of the alleged diversion scheme, that the company directly sold export-controlled products to known restricted parties, or that previously issued financial statements were unreliable in connection with the matter.

The company took personnel actions, including terminations, against employees in sales, technical support, and business development functions for failure to follow company policies or its code of conduct.

Independent directors made recommendations to enhance Supermicro's export compliance program, which the board adopted in full. Certain recommendations have already been implemented under the oversight of the General Counsel and Chief Compliance Officer, with independent directors overseeing the remainder.

"The independent directors support the actions the Company has already taken to bolster its internal policies and procedures, as well as the additional enhancements that will be implemented," said Angel in a statement based on the press release.

Supermicro said it continues to cooperate with relevant government authorities in connection with their ongoing investigations.