Reported 8 months ago
The U.S. Supreme Court has agreed to hear Nvidia's appeal to dismiss a securities fraud lawsuit alleging the AI chipmaker misled investors about its sales to the cryptocurrency industry. Shareholders in California led by E. Ohman J:or Fonder AB seek unspecified damages, claiming Nvidia downplayed the impact of crypto-related purchases in 2017 and 2018. Nvidia argues against the revival of the lawsuit, fearing it could lead to speculative litigation. The Supreme Court will also review a similar case involving Meta's Facebook in its next term starting in October.
Source: YAHOO