Super Micro Computer surged more than 15% after a special committee ruled that it found "no evidence of misconduct" at the embattled AI server maker.

Super Micro Computer Inc. said an external review of its business by a special committee of its board and external counsel found no evidence of wrongdoing and that the company will appoint new top financial leadership.

Super Micro Computer's annual report, its 10-K filing, was due on Aug. 29, and the company has yet to file it. Providing audited financials can take time for a company, especially when the auditor is new, as opposed to an auditor who is already familiar with the business.

Super Micro has engaged BDO as its auditor, replacing Ernst & Young, which resigned in October after it raised concerns regarding the company’s financial statements.

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.

The stock now trades at $35 per share, up about 2x from recent lows seen around mid-November, when investors were concerned about the company’s potential delisting