The U.S. Department of Justice and the Securities and Exchange Commission (SEC) told the U.S. Supreme Court that a class-action investor lawsuit alleging Nvidia misled cryptocurrency miners in its sales should be approved. The legal battle between Nvidia and the investor groups has been going on since 2018, and the case has now reached the U.S. Supreme Court. In an out-of-court opinion on Oct. 2, Acting U.S. Attorney General Elizabeth Prelogar and SEC senior attorney Theodore Weiman argued that the lawsuit âprovides sufficient detailâ to allow it to survive a district court dismissal, adding that the Supreme Court should give the green light to revive the lawsuit through the Court of Appeals. âMeritorious private litigation is an important complement to the criminal prosecutions and civil enforcement actions of the Department of Justice and the SEC,â the opinion added. The investor groups tried to sue Nvidia in 2018, alleging that it concealed more than $1 billion in GPU sales to crypto miners. The group claimed that Nvidiaâs CEO Jensen Huang downplayed the companyâs sales in the industry. (Cointelegraph) #zachxbt
