Nvidia and CEO Face Lawsuit Amid Mining Revenue Gap Claims
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US federal court certified a class action against Nvidia and CEO Jensen Huang alleging it hid >$1B in crypto-linked GPU sales for investors who bought between Aug 10, 2017 and Nov 15, 2018; Nov 2018 disclosures later showed weak gaming demand. Judge allowed collective claims to proceed and set a case conference for Apr 21, moving the dispute closer to trial and creating potential financial and reputational risk for Nvidia and GPU exposure to crypto mining. Crypto-specific impact: raises transparency and reporting risk around mining/GPU revenue, could dent investor confidence in hardware demand metrics and influence market perceptions of crypto mining and token/economy adoption.
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- Nvidia faces a certified class action over claims it hid more than $1 billion in crypto-linked GPU sales.
- The case covers investors between August 2017 and November 2018.
- November 2018 disclosures exposed weak gaming demand.
A US federal court has allowed a lawsuit against Nvidia and CEO Jensen Huang to move forward as a class action. The case covers investors who bought shares between August 10, 2017, and November 15, 2018.
Judge Haywood S. Gilliam Jr. ruled that investors can pursue claims as a group. The decision does not settle liability, but it pushes the case closer to trial. A case conference is set for April 21, where the court will decide the next steps.
The core claim is that Nvidia did not fully disclose how much of its gaming GPU revenue came from crypto mining during the 2017-2018 boom.
Read The Full Article Nvidia and CEO Face Lawsuit Amid Mining Revenue Gap Claims On Coin Edition.
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