The US Supreme Court has avoided deciding on the possibility of shareholders pursuing a securities fraud lawsuit against Nvidia, leaving a lower court’s ruling intact.
The decision hinges on whether the plaintiffs met the increased legal standards set by the Private Securities Litigation Reform Act, which aims to prevent frivolous lawsuits in securities fraud cases.
During arguments, justices expressed concerns about whether a clear legal issue existed, emphasizing the case's complex nature and the appropriateness of the court’s intervention.
Nvidia has been accused of downplaying its revenue dependency on the cryptocurrency market during a vital period, which heightened scrutiny on their statements related to crypto-driven sales.
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