PANews reported on June 17 that according to Bloomberg, the U.S. Supreme Court will hear Nvidia's shareholder lawsuit involving cryptocurrency mining revenue, a decision that may have a significant impact on future securities fraud lawsuits. Shareholders accused Nvidia of misleading the market during 2017 and 2018, concealing the fact that the company's GeForce GPU product sales growth mainly relied on cryptocurrency mining demand. After the cryptocurrency market fell, Nvidia's stock price fell sharply. Nvidia argued that shareholders failed to provide sufficient internal evidence to prove its misleading behavior. If the Supreme Court's ruling supports Nvidia, it will provide the company with a new legal basis for early dismissal of shareholder lawsuits and reduce the costs required for comprehensive defense.
