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Supreme Court seems likely to allow class action to proceed against tech company Nvidia

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Technology Nieuws

Elena Kagan,Business,Washington News

The Supreme Court seems likely to keep alive a class-action lawsuit accusing Nvidia of misleading investors about its dependence on selling computer chips for the mining of volatile cryptocurrency.

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On Wednesday, a majority of the court that included liberal and conservative justices appeared to reject the arguments advanced by Neal Katyal, the lawyer for Santa Clara, California-based Nvidia. In 2022, Nvidia paid a $5.5 million fine to settle charges by the Securities and Exchange Commission that it failed to disclose that cryptomining was a significant source of revenue growth from the sale of graphics processing units that were produced and marketed for gaming. The company did not admit to any wrongdoing as part of the settlement.

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Supreme Court seems likely to allow class action to proceed against tech company NvidiaThe Supreme Court seems likely to keep alive a class-action lawsuit accusing Nvidia of misleading investors about its dependence on selling computer chips for the mining of volatile cryptocurrency.
Bron: AP - 🏆 728. / 51 Lees verder »