WASHINGTON — 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.
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. In 2022, Nvidia, which is based in Santa Clara, California, 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.
Nvidia has led the artificial intelligence sector to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company’s chips and data centers needed to train and operate their AI systems.
Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
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: ksatnews - 🏆 442. / 53 Lees verder »
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: wjxt4 - 🏆 246. / 63 Lees verder »
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: KPRC2 - 🏆 80. / 68 Lees verder »
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 »
Supreme Court allows investors' class action to proceed against microchip company NvidiaThe 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.
Bron: wjxt4 - 🏆 246. / 63 Lees verder »