Supreme Court Will Hear Shareholder Lawsuit Alleging NVIDIA Deceived Investors

A lawsuit filed by shareholders claimed that the company did not disclose information to investors regarding its exposure to cryptocurrencies. The Supreme Court has agreed to hear a case involving NVIDIA, a Silicon Valley giant, that could impact the ability of shareholders to pursue securities fraud lawsuits. NVIDIA, known for its graphics processors used in artificial intelligence development, is based in Santa Clara, California. The case involves allegations that NVIDIA misrepresented its reliance on revenue from cryptocurrency mining before a market downturn in 2018. The company argues that the legal complaint lacks specificity. Despite a lower court dismissing the lawsuit, the U.S. Court of Appeals for the 9th Circuit reinstated it, stating that the plaintiffs had adequately alleged false or misleading statements made by the company’s CEO. This is an ongoing story and will be updated accordingly.

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