Just over a month after Ernst & Young resigned as its public accounting firm, Super Micro Computer says a review committee has found no evidence of fraud or misconduct among the server maker’s leadership.

Super Micro Computer shares rose after the company said a final review showed no evidence of fraud or misconduct by its management or board relating to accounting issues that have dragged on the stock in recent weeks.

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.

Shares in Super Micro Computer surged more than 20% after the company said a review of its accounting hadn't supported claims made by former auditor Ernst & Young, or raised major concerns about senior management.

Super Micro Computer Inc. said an independent review of its business found no evidence of misconduct but recommended that the server maker appoint new top financial and legal leadership.

Shares of Super Micro Computer (SMCI) (SMCI) soared 23% on Monday morning following the announcement that an independent special committee had concluded its investigation into the company’s operations and found no evidence of misconduct by the company’s management or Board of Directors.

Super Micro Computer (NASDAQ:SMCI) was up around 13% on Monday after an independent special committee found no evidence of misconduct by the board of directors or audit cozsxmmittee. No restatement of reported financials is expected based on the findings on the review.