Accounting fraud

The retailer said the incident involved only one former employee, who had hidden as much as $154 million of delivery expenses since 2021.

An employee "intentionally" made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses stretching over multiple years.

The move follows an accounting scandal that has wiped out billions of dollars in market value and drawn investigations by the DOJ and SEC.

The server maker has seen more than $50 billion of its market value wiped out over concerns about its accounting.

The resignation comes after Department of Justice launched a probe into an ex-employee's claims that Super Micro violated accounting rules.

The sofamaker agreed to pay $1.5 million to the SEC to settle allegations that two former executives devised a fraudulent accounting scheme to meet a key Wall Street metric.

Ben la Grange, whose official sentence is 10 years, won some leniency for cooperating with investigators.

The company was hit with a $24 million penalty as a result of an accounting scheme designed to inflate earnings.

Shipbuilder Austal USA and its parent company agreed to a $24 million civil penalty to settle fraud charges by the Securities and Exchange Commission.

Starboard Value LP urged Autodesk Inc.'s board to evaluate whether Chief Executive Officer Andrew Anagnost is the right person to lead the company following recent accounting issues.