Shares of Super Micro Computer (SMCI) cratered Wednesday morning, falling over 30% after a filing revealed accounting firm Ernst & Young (EY) has resigned from its relationship with the tech company.

In the Resignation Letter, EY said, in part: “We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management's and the Audit Committee’s representations and to be unwilling to be associated with the financial statements prepared by management, and after concluding we can no longer provide the Audit Services in accordance with applicable law or professional obligations.”

EY quit while conducting the audit for Super Micro's fiscal year that ended on June 30, 2024. In Wednesday's 8-K SEC filing, Super Micro wrote it "disagrees" with EY's decision.

"The Special Committee has not yet obtained all information relevant for the Review and has not concluded the Review," Super Micro wrote. "Nevertheless, the Company has taken the concerns expressed by EY seriously, and will carefully consider the findings of the Special Committee and any remedial or other actions recommended by the Special Committee following conclusion of the Review."

EY's resignation comes two months after a short report from Hindenburg Research alleged, among other things, "accounting manipulation" at the AI high flyer.

After rallying earlier in the year as investors cheered SMCI's prospects in the AI data center space, the stock is now down over the past six months.

In August, Hindenburg said its three-month investigation "found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues." The firm also disclosed it had taken a short position in Super Micro.

After that report, SuperMicro delayed the filing of its annual report, which sent the stock nearly 20% on Aug. 28. Per SuperMicro's SEC filing's page, the company still hasn't filed its annual report for 2024.

Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.

Click here for in-depth analysis of the latest stock market news and events moving stock prices

Read the latest financial and business news from Yahoo Finance