Shares of Super Micro Computer (NASDAQ:SMCI) soared over 18% Monday after the company announced the completion of an independent review by a special committee of its board. The review cleared management and the audit committee

The server maker said evidence reviewed by its special committee didn’t raise substantial concerns about its senior management or audit committee.

Super Micro Computer has begun the search for a new finance chief based on recommendations made by a special committee formed to look into the AI server maker's accounting practices, the company said on Monday.

Super Micro Computer Inc. said an independent review of its business found no evidence of misconduct but recommended that the server maker appoint new top financial and legal leadership.

Shares of Super Micro Computer (SMCI) (SMCI) soared 23% on Monday morning following the announcement that an independent special committee had concluded its investigation into the company’s operations and found no evidence of misconduct by the company’s management or Board of Directors.

Super Micro Computer (NASDAQ:SMCI) was up around 13% on Monday after an independent special committee found no evidence of misconduct by the board of directors or audit cozsxmmittee. No restatement of reported financials is expected based on the findings on the review.