Nvidia must face an investor lawsuit claiming it misled shareholders about the impact of the cryptocurrency market on its sales after the Supreme Court dismissed the company’s appeal. The court said it had “improvidently granted” Nvidia’s petition,

The U.S. Supreme Court allowed a lawsuit against Nvidia over underreporting $1.35 billion in crypto revenue, leading to $3.8 billion in losses. Supported by the DOJ and SEC, the case could set a precedent for transparency in crypto mining.

Plaintiffs accused Nvidia and its CEO Jensen Huang of by making statements in 2017 and 2018 that falsely downplayed how much of Nvidia’s revenue growth came from crypto-related purchases.

Nvidia stock has experienced an enormous surge this year, climbing over the summer to the position of the top-valued company in the world. The incoming Trump administration’s cryptocurrency enthusiasm also put Nvidia on the map since miners use its servers for their work.

Supreme Court allows a class-action lawsuit against Nvidia over alleged investor deception on crypto reliance to proceed in lower courts.

At issue was a 2018 suit led by a Swedish investment management firm. It followed a dip in the profitability of cryptocurrency, which caused Nvidia’s revenues to fall short of projections and led to a 28% drop in the company’s stock price. Nvidia had ...

Nvidia 's ( NVDA 3.08%) stock has been a huge winner each of the past two years. After surging over 238% in 2023, the stock has soared approximately 164% this year, as of this writing. Those are two huge back-to-back year gains that have propelled the company to become one of the largest in the world.

Nvidia (NASDAQ:NVDA ... lawsuit by investors accusing it of misleading shareholders over how important the cryptocurrency market was to its business. The rejection of the case means a lower ...

On Dec. 11, 2024, the U.S. Supreme Court rejected NVDA's ( NVDA, Financial) appeal of a $1 billion class-action lawsuit, adding to the company's legal scrutiny. First filed in 2018, the case alleges that the GPU giant underreported cryptocurrency mining sales during a shaky crypto market period, causing investors millions of dollars in losses.

The Supreme Court has allowed a class-action lawsuit against microchip company Nvidia to proceed. The lawsuit accuses Nvidia of misleading investors about its past reliance on selling computer chips for mining volatile cryptocurrency.

Nvidia must face an investor lawsuit claiming it misled shareholders about the impact of the cryptocurrency market on its sales after the Supreme Court dismissed the company’s appeal.

The Supreme Court is allowing a class-action lawsuit that accuses Nvidia of misleading investors about its past dependence on selling computer chips for the mining of volatile cryptocurrency to proceed.