US Supreme Court tosses case involving securities fraud suit against Nvidia
Just In: Supreme Court allows investors’ class action to proceed against microchip company Nvidia 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 mining volatile cryptocurrency. On Wednesday, The US Supreme Court circumvented a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing artificial intelligence chipmaker Nvidia of misleading investors about how much of its sales depended on the volatile cryptocurrency market. Nvidia had argued that the investors’ lawsuit should be thrown out because it does not measure up to a 1995 law, the Private Securities Litigation Reform Act, intended to bar frivolous complaints. A district court judge had dismissed the complaint before the federal appeals court in San Francisco ruled that it could go forward. The Biden administration backed the investors at ...