The US Supreme Court has dismissed an NVIDIA lawsuit brought by shareholders against the chip maker, allowing most of the case to proceed. The court ruled that the technical details of the case were too complex for them to hear.
NVIDIA was sued by an investment firm and a pension fund over claims that the company misled investors about its reliance on the crypto-mining industry. The suit alleges that NVIDIA concealed its dependence on the market before a 2018 crash that sank the chip maker’s stock prices.
The court’s unanimous dismissal reflects their apparent aversion to hearing the case, with one justice suggesting that they were not expecting to engage in such technical analysis when they took the case. This decision lets the shareholders continue pursuing their lawsuit against NVIDIA, which affects the finances of a large corporation and its investors.
Source: https://www.yahoo.com/tech/us-supreme-court-bails-on-nvidia-case-allowing-a-shareholder-lawsuit-to-proceed-214001377.html