The lawsuit accuses Nvidia of misleading investors about how much of its sales depended on the volatile cryptocurrency market
bid to torpedo a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales depended on the volatile cryptocurrency market.
Some of the justices expressed reservations about intervening in the case, wondering about whether there is a clear legal issue for them to decide, as opposed to just a dispute over facts – and given the technical complexities involved they may not be ideally placed to resolve. “I guess my concern is that you appear to be requiring for plaintiffs to actually have the evidence in order to plead their case,” Jackson said, noting that critical evidence often is not obtained by plaintiffs until a later stage of litigation.
Beginning in 2017, as the price of certain cryptocurrencies rose, Nvidia’s chips became increasingly popular for cryptomining, a process that involves performing complex math equations in order to secure cryptocurrencies such as bitcoin and ether. Nvidia in 2022 agreed to pay $5.5-million to U.S. authorities to settle charges that it did not properly disclose the impact of cryptomining on its gaming business, but without admitting or denying the findings of federal regulators.
Nvidia Evidence Court Case Litigation Nvidia Law Concern Deepak Gupta San Francisco-Based 9Th U.S. Circuit Court Of Appe Ketanji Brown Jackson
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