Nvidia Faces Class-Action Over $1 Billion in Crypto Mining Sales
Nvidia faces a class-action lawsuit over $1 billion in crypto mining sales after the U.S. Supreme Court rejected their appeal on December 11. The suit started in 2018 when investors claimed Nvidia hid substantial GPU sales to cryptocurrency miners. They say the company downplayed crypto mining during intense crypto market volatility. Also Read: Ripple: ChatGPT Sets XRP’s Price For The Year End Exploring the $1B Nvidia Lawsuit and Crypto Mining Market Risks Source: Nvidia Newsroom Supreme Court’s Decisive Ruling Source: The Motley Fool The Supreme Court dismissed Nvidia’s attempt to overturn the Ninth Circuit appeals court’s decision. The lawsuit over $1 billion stems from claims that the company hid GPU sales to crypto miners. This led to a 30% share price drop when sales crashed alongside the falling crypto market in late 2018. Department of Justice Backing The Justice Department and SEC support the investors in the Nvidia crypto mining lawsuit. Evidence from former e...