9th U.S. Circuit Court of Appeals,
Securities,
U.S. Supreme Court
Jun. 20, 2024
Supreme Court to review Nvidia securities case related to cryptocurrency mining
The lawsuit alleges that Nvidia executives misled investors by failing to disclose that its soaring revenues were based not on gaming but on sales to cryptocurrency miners, leaving the company vulnerable in case prices of Bitcoin and other cryptocurrencies dropped.
The U.S. Supreme Court will consider a 9th U.S. Circuit Court of Appeals decision during its next term allowing a securities fraud case to proceed against Nvidia Corp. over the scope of its sales to cryptocurrency miners in 2017 and 2018.
Justices agreed to review the ruling on Monday and the court is expected to hear the case this fall. Nvidia Corp. v. E. Ohman J:or Fonder AB et al., 23-970 (S. Ct., filed Dec. 20, 2023).
U.S. District Judge Haywood Gilliam Jr. ...
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