Nvidia’s Troubles Mount As DOJ, SEC Throw Their Weight Behind Class Action Lawsuit Alleging AI Chip Giant Misrepresented Crypto Revenue
Posted On October 4, 2024
The U.S. Justice Department and the SEC have backed the class action lawsuit against AI chip giant Nvidia Corp. (NASDAQ:NVDA) in the Supreme Court, which accused Nvidia of hiding its cryptocurrency revenue.
What Happened: The DOJ and SEC are advocating for the continuation of the lawsuit, which was brought against the company in 2018, Cointelegraph reported Thursday.
In an amicus brief, U.S. Solicitor General Elizabeth Prelogar and SEC senior lawyer Theodore Weiman argued that the lawsuit had “sufficient details” to survive a district court dismissal, urging the apex court to …
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