Supreme Court Declines Nvidia Appeal, Allowing Securities Fraud Case to Proceed

The class-action lawsuit alleges Nvidia misled investors about its reliance on cryptocurrency mining during a volatile market period.

The U.S. Supreme Court dismissed Nvidia's appeal in a securities fraud case, leaving a lower court ruling intact that allows the lawsuit to continue.
The lawsuit, filed in 2018, accuses Nvidia of downplaying its dependence on cryptocurrency-related sales, which investors claim led to significant financial losses after a crypto market downturn.
Nvidia previously settled related charges with the SEC in 2022, paying $5.5 million without admitting wrongdoing over inadequate disclosure of crypto-related revenues.
The court's one-line dismissal stated the case was 'improvidently granted,' signaling the justices felt it was too fact-specific and unsuitable for Supreme Court review.
The case will now return to the 9th U.S. Circuit Court of Appeals, where investors seek to prove their claims under securities fraud laws.