"Plaintiffs allege that Nvidia and CEO Jensen Huang made materially misleading statements to investors during that period, specifically by downplaying how much of the company's Gaming-segment GPU revenue came from cryptocurrency miners rather than consumers."
"According to the court order, the plaintiffs claim Nvidia concealed over $1 billion in crypto-driven revenue throughout the class period."
"Judge Gilliam granted the motion under Federal Rule of Civil Procedure 23(b)(3), finding that common questions of law and fact predominate across the class."
U.S. District Judge Haywood S. Gilliam Jr. certified a class action in the Nvidia Securities Litigation, allowing investors who purchased Nvidia stock between August 2017 and November 2018 to proceed collectively. Plaintiffs allege Nvidia and CEO Jensen Huang misled investors by minimizing the impact of cryptocurrency miners on GPU revenue. The court found that Nvidia concealed over $1 billion in revenue, leading to a significant stock drop after corrective disclosures. The ruling allows the case to move forward but does not determine Nvidia's liability or the outcome of the trial.
Read at news.bitcoin.com
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