The U.S. Supreme Court rejected Nvidia's appeal in the securities case, allowing the lawsuit to proceed. The lawsuit was filed by the Swedish investment firm Ohman J:or Fonder, accusing Nvidia's management, including CEO Jensen Huang, of concealing the dependence of sales on the volatile cryptocurrency mining market. The case is related to events in 2018 when Nvidia reported a quarterly revenue decline and warned of potential future income drops. This caused the company's stock to drop by 28.5 percent over two trading days.
12/12/2024 2:48:06 PM (GMT+1)
The U.S. Supreme Court rejected Nvidia's appeal in the securities case related to allegations of concealing the dependence of sales on the volatile cryptocurrency mining market in 2018, allowing the case to proceed ⚖️
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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