Electrameccanica Vehicles Corp
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Consumer Discretionary : Automobiles | Small Cap Growth
Based in Canada
Company profile

Electrameccanica Vehicles Corp is a Canada-based company engaged in automobiles and multi-utility vehicles business sector. The Company is dedicated to the design and manufacture of electric vehicles. The Company operates in two reportable business segments in Canada, Electric Vehicles and Custom build vehicles. Electric Vehicles segment includes development and manufacture of electric vehicles for mass markets. Custom build vehicles segment includes development and manufacture of high-end custom built vehicles. The Company has designed and built all-electric SOLO, a single-seater electric vehicle. It has also designed the Tofino, electric two seater roadster set.

Closing Price
Day's Change
-0.36 (-4.55%)
B/A Size
Day's High
Day's Low

10-day average volume:

SEC charges Super Micro with accounting misdeeds

4:50 pm ET August 25, 2020 (MarketWatch)

The Securities and Exchange Commission has charged Super Micro Computer Inc. (SMCI) with accounting misdeeds over a period of three years, the SEC announced Tuesday. The Silicon Valley hardware maker is accused of recognizing revenue earlier than it should have been and misused its cooperative marketing program to avoid expenses. The charges are targeted at former Chief Financial Officer Howard Hideshima, who has agreed to pay a $50,000 penalty as well as disgorgement and prejudgment interest totaling more than $300,000, without admitting nor denying the charges. Super Micro has agreed to pay a $17.5 million penalty, and Chief Executive Charles Liang, who is not accused of misconduct, will have to pay $2.1 million to the company for stock proceeds he received during the time period, all without admitting nor denying the SEC's findings. Super Micro has already announced restatements for the 2105, 2016 and 2017 fiscal years as a result of an internal investigation, and after being delisted as annual reports were delayed (http://www.marketwatch.com/story/new-cloud-over-super-micro-adds-to-its-dark-relationship-with-wall-street-2018-10-04) and the company faced a report that its products had been infiltrated by Chinese technology, has regained its Nasdaq listing (http://www.marketwatch.com/story/super-micro-to-relist-shares-on-nasdaq-raises-revenue-guidance-2020-01-09). Shares declined 2.8% in after-hours trading Tuesday after the charges were announced.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 25, 2020 16:50 ET (20:50 GMT)

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