On Monday, Super Micro said it had completed an internal probe overseen by a board member that had found no evidence of misconduct. The company also said at the time that it planned to replace Chief Financial Officer David Weigand, and that it had appointed a new accounting chief.

Super Micro shares soared more than 14-fold from the end of 2022 to their peak in March of this year, when it was added to the S&P 500. The stock has since lost about 60% of its value.

The Nasdaq delisting process can take about a year depending on deadlines and appeals. Super Micro was previously delisted from the exchange in 2018.