Super Micro Computer Stock Falls 26% Over US Indictment Against Associated Individuals

(RTTNews) - Stock of Super Micro Computer, Inc. (SMCI) is falling around 26 percent on Friday morning trading after the company said that it was informed that the U.S. Attorney's Office for the Southern District of New York has unsealed an indictment against three individuals linked to the company over an alleged conspiracy to violate export-control laws.

The company's stock is currently trading at $22.69, down 26.21 percent or $8.09, over the previous close of $30.79 on the Nasdaq. It has traded between $21.85 and $62.36 in the past one year.

The company stated that it has placed the two employees on administrative leave and terminated its relationship with the contractor, effective immediately. Additionally, it emphasized that Super Micro Computer is not named as a defendant in the case.