US Supreme Court tosses case involving securities fraud suit against Nvidia

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US Supreme Court tosses case involving securities fraud suit against Nvidia - Business Standard

Quick Summary:

Nvidia's chips became increasingly popular for cryptomining, a process that involves performing complex math equations.

Nvidia in 2022 agreed to pay $5.5 million to US 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.

The 9th Circuit found that the plaintiffs had adequately alleged that Huang made "false or misleading statements and did so knowingly or recklessly," allowing their case to proceed.