On August 25, 2020, the SEC instituted settled cease-and-desist proceedings against Super Micro Computer, Inc. The SEC stated: "Super Micro's executives pushed employees to maximize end-of-quarter revenue and minimize expenses, without devising and maintaining sufficient internal accounting controls to record revenue and expenses in conformity with U.S. Generally Accepted Accounting Principles ("GAAP")."

The SEC stated that "[It] charged Super Micro Computer, Inc., a producer of computer servers, and its former CFO, Howard Hideshima, with prematurely recognizing revenue and understating expenses over a period of at least three years."

The Commission stated: "[F]or good cause shown, IT IS HEREBY ORDERED that the Division's request for an extension of time until April 30, 2021 to submit a Proposed Plan of Distribution is granted."

The Commission stated: "IT IS ORDERED that Miller Kaplan, pursuant to and in accordance with the Omnibus Order, is appointed the Tax Administrator for the QSF in the above-referenced proceeding."

The Commission stated: " IT IS HEREBY ORDERED that KCC is appointed as the fund administrator . . . and shall obtain a bond . . . in the amount of $17,851,056.00."

The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the "Plan") for the distribution of monies paid in the above-captioned matters."

The Commission stated: "The Division of Enforcement submits this proposed plan of distribution (the "Plan") . . . the Plan provides for the distribution of the collected funds in the above-captioned proceedings."

The SEC stated: "it is hereby ORDERED that the Proposed Plan is approved."

The SEC stated: "The Division of Enforcement has prepared this plan of distribution (the “Plan”) . . . the Plan provides for the distribution of the collected funds in the above-captioned proceedings."

The Commission ordered that: "the Plan is modified as described herein, and the approved Amended Plan of Distribution shall be posted simultaneously with this Order on the Commission’s website at www.sec.gov."

The SEC stated: "The Division of Enforcement has prepared this plan of distribution (the “Plan”) . . . the Plan provides for the distribution of the collected funds in the above-captioned proceedings."

The SEC ordered that: "Commission staff shall transfer $17,593,975.87 from the Fair Fund to the Fair Fund’s escrow account at The Huntington National Bank, N.A. and the Fund Administrator shall distribute such monies in accordance with the Amended Plan."

The Commission ordered: "that OFM pay the Fund Administrator’s fees and expenses of $455,627.22 from the Fair Fund in accordance with Rule 1105(e) of the Commission’s Rules. Further, OFM is authorized to pay, at the direction of an Assistant Director of the Office of Distributions, any future fees and expenses of the Fund Administrator from the Fair Fund in accordance with Rule 1105(e) of the Commission’s Rules, so long as the total amount paid to the Fund Administrator, including the invoice to be paid, does not exceed the total amount of the approved cost proposal submitted by the Fund Administrator."

The Commission ordered that: "Commission staff shall transfer $233,654.72 from the Fair Fund to the Escrow Account for distribution along with the $155,599.97 held in the Escrow Account, for a total distribution of $389,254.69 in accordance with the Amended Plan."