Nvidia must face an investor lawsuit claiming it misled shareholders about the impact of the cryptocurrency market on its sales after the Supreme Court dismissed the company’s appeal. The court said it had “improvidently granted” Nvidia’s petition,

The U.S. Supreme Court allowed a lawsuit against Nvidia over underreporting $1.35 billion in crypto revenue, leading to $3.8 billion in losses. Supported by the DOJ and SEC, the case could set a precedent for transparency in crypto mining.

Plaintiffs accused Nvidia and its CEO Jensen Huang of by making statements in 2017 and 2018 that falsely downplayed how much of Nvidia’s revenue growth came from crypto-related purchases.

Nvidia stock has experienced an enormous surge this year, climbing over the summer to the position of the top-valued company in the world. The incoming Trump administration’s cryptocurrency enthusiasm also put Nvidia on the map since miners use its servers for their work.

In an unsigned order, the justices dismissed the case against the tech giant as “improvidently granted,” meaning they had concluded that it had been a mistake to take it up.

Hedge fund Millennium Management recently trimmed its position in Nvidia by 12%, while simultaneously boosting its position in Bitcoin by 120%. Bitcoin could outperform Nvidia over the near to medium term,

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. Nvidia had ...

Supreme Court dismisses Nvidia's appeal and allows the lower court's ruling, reviving a class action lawsuit alleging securities fraud by misleading investors about cryptocurrency sales.

On Dec. 11, 2024, the U.S. Supreme Court rejected NVDA's ( NVDA, Financial) appeal of a $1 billion class-action lawsuit, adding to the company's legal scrutiny. First filed in 2018, the case alleges that the GPU giant underreported cryptocurrency mining sales during a shaky crypto market period, causing investors millions of dollars in losses.

Long-term investment is the key to life-changing returns in the stock market, and few companies highlight this concept better than Nvidia ( NVDA -2.25%). If you bought $1,000 worth of the chipmaker's stock 10 years ago, you would have roughly $267,000 today -- a return of 26,600%.

Nvidia must face an investor lawsuit claiming it misled shareholders about the impact of the cryptocurrency market on its sales after the Supreme Court dismissed the company’s appeal.

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.