Nvidia logo and sign on headquarters in Santa Clara, California. Credit: MichaelVi/Adobe StockSupreme Court allows investors' class action to proceed against microchip company Nvidia
California-based Nvidia paid $5.5 million in 2022 to settle SEC charges that it failed to disclose that cryptomining was a significant source of revenue growth from the sale of GPUs for gaming.
December 11, 2024 at 02:08 PM
3 minute read
What You Need to Know
- Nvidia allegedly misled investors about cryptomining.
- A Swedish group filed suit in 2018 after Nvidia's value fell on lower revenue
- A federal appeals court in San Francisco said the class action should proceed.
WASHINGTON (AP) — 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.
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