Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    image 121
    NewsCryptoMarketSponsored Article

    MoonBull Takes Center Stage: Whitelist Rush Crowns It the Top New Meme Coin to Watch in 2025 as Dogecoin and Peanut the Squirrel Rally

    Have you ever kicked yourself for missing out on a moonshot like…

    By
    Benedikt Krüger
    September 6, 2025
    image 129
    NewsCryptoMarketSponsored Article
    Still Regretting Notcoin’s ATH Exit? MoonBull Might Be the 100x Crypto Opportunity to Recover Missed Gains
    September 6, 2025
    image 123
    CryptoMarketNewsSponsored Article
    Fast Movers Score Big: MoonBull Tipped as the Best New Upcoming Crypto, While Popcat and Turbo Hold Steady
    September 6, 2025
    image 121
    CryptoCryptoMarketNewsNewsSponsored ArticleSponsored Article
    Missed Out On Pepe’s Pump? MoonBull Could Be Your Next Gateway To 1000X Crypto Potential – Act Fast
    September 5, 2025
    image 104
    CryptoMarketNewsSponsored Article
    MoonBull Pulls Up to Steal the Headlines as the Top New Meme Coin to Watch – Dogwifhat and Pepe Keep the Crypto Fire Blazing
    September 5, 2025
  • Cryptocurrency
    image 121
    MoonBull Takes Center Stage: Whitelist Rush Crowns It the Top New Meme Coin to Watch in 2025 as Dogecoin and Peanut the Squirrel Rally
    9 Min Read
    image 129
    Still Regretting Notcoin’s ATH Exit? MoonBull Might Be the 100x Crypto Opportunity to Recover Missed Gains
    6 Min Read
    image 123
    Fast Movers Score Big: MoonBull Tipped as the Best New Upcoming Crypto, While Popcat and Turbo Hold Steady
    9 Min Read
    image 121
    Missed Out On Pepe’s Pump? MoonBull Could Be Your Next Gateway To 1000X Crypto Potential – Act Fast
    8 Min Read
    image 104
    MoonBull Pulls Up to Steal the Headlines as the Top New Meme Coin to Watch – Dogwifhat and Pepe Keep the Crypto Fire Blazing
    8 Min Read
    New Grayscale ETCO ETF Turns Ethereum Volatility Into Regular Cash Flow
    New Grayscale ETCO ETF Turns Ethereum Volatility Into Regular Cash Flow
    6 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: Supreme Court Shocker: Nvidia Must Face Crypto Lawsuit
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > Crypto > Supreme Court Shocker: Nvidia Must Face Crypto Lawsuit
CryptoNews

Supreme Court Shocker: Nvidia Must Face Crypto Lawsuit

Supreme Court Shocker Nvidia Must Face Crypto Lawsuit
Supreme Court Shocker Nvidia Must Face Crypto Lawsuit
Victoria James
Last updated: December 12, 2024 11:27 am
By
Victoria James
Published December 12, 2024
5 Min Read
Share

The U.S. Supreme Court has rejected Nvidia’s request to move on from a class-action suit, allowing investors to pursue their claims alleging the tech behemoth misled the market about its GPU sales to cryptocurrency miners. The decision represents a major shift in the ongoing legal battle.

Contents
Court’s Decision Affirms Prior RulingNvidia Stays on the OffenseAllegation of Misrepresentation by ShareholdersSupport for Investors by Government AgenciesWhat Does the Future Hold for Nvidia? Implications for the Wider Industry
Supreme Court
Supreme Court Shocker Nvidia Must Face Crypto Lawsuit

Court’s Decision Affirms Prior Ruling

On Dec. 11, the Supreme Court issued a brief, one-line order denying Nvidia’s appeal, providing no reasoning. In making this decision, the court affirmed an earlier ruling from the Ninth Circuit Court of Appeals in August that had revived the lawsuit after it had been dismissed in 2021 by a California district court.

The suit, which was initially filed in 2018, claims Nvidia hid more than $1 billion in revenue through the sale of GPUs to crypto miners. Shareholders say CEO Jensen Huang and the company understated the importance of cryptocurrency-related sales, which resulted in less-than-transparent financial reporting from Nvidia.

Nvidia Stays on the Offense

Nvidia has denied the allegations, repeatedly claiming the suit is based on untrustworthy expert testimony and invented claims. After the Supreme Court’s decision, a company spokesperson said:

“While we would have preferred a merits decision affirming the trial court’s dismissal of the case, we are ready to continue our defence in full.” Consistent and predictable standards in securities litigation that protect shareholders and a healthy economy remain a goal to which we are dedicated.”

Nvidia, however, is preparing to fight its case in lower courts, arguing that it has followed all regulatory requirements despite the breaking news.

Allegation of Misrepresentation by Shareholders

They argue that the company’s results during the 2017–2018 crypto boom were highly inflated by GPU sales to miners but that Nvidia intentionally downplayed this fact. The so-called overreliance on crypto-related sales was laid bare when Nvidia’s stock value plunged nearly 30% in two days in late 2018 as cryptocurrency demand declined.

The shareholders are said to have submitted supporting evidence, including statements from former Nvidia executives and a report from the Bank of Canada alleging that the company underreported its revenue tied to cryptocurrency activities by $1.35 billion.

Support for Investors by Government Agencies

In October, the lawsuit gained steam when the U.S. Department of Justice and the Securities and Exchange Commission (SEC) submitted briefs in support of the shareholders. The agencies contended that Nvidia’s appeal was without merit and stressed the need to hold corporations responsible for truthful financial disclosures.

“This is not what happened here,” the SEC said in a brief arguing against the company’s assertion that the lawsuit was based on fabricated evidence.

2022 — Nvidia’s SEC Settlement

This legal challenge comes after Nvidia’s earlier battle with regulators. In 2022, the company paid a $5.5 million fine to settle charges from the Securities and Exchange Commission that it had failed to disclose how much crypto mining was affecting its gaming business. As part of the settlement, Nvidia did not admit or deny the findings.

GPU sales

What Does the Future Hold for Nvidia? 

The Supreme Court’s decision means that the lawsuit will now go back down to lower courts, where both sides will make further arguments. A win for the shareholders would have major implications for corporate disclosure practices, especially for companies doing business in volatile industries such as cryptocurrency.

And Nvidia, with its super powerful chips that dominate both gaming and artificial intelligence technologies, has seen its boost in business turn into huge financial growth this year. But the result of this court case may, alas, impact its market perception and investors’ confidence.

Implications for the Wider Industry

The Nvidia case reflects increasing regulatory scrutiny over financial reporting related to emerging markets like cryptocurrency. As the case moves forward, this fight could set a ruling that creates a playbook company can follow when trying to fulfil disclosure requirements in fields subject to profound changes in short periods. For Nvidia, this legal challenge serves as a lesson on the importance of transparency in building trust among investors.

 

Advertising

For advertising inquiries, please email . [email protected] or Telegram

MoonBull Whitelist Ignites – Don’t Miss the Next 100x Move – Best Crypto to Watch in 2025 as Popcat Volume Spikes and Pepe Slips

SEC’s Changing Stance on Digital Assets in the Binance Case Echoes Ripple Impact

BlackRock’s Bitcoin ETF Debuts in Canada: A New Era for Crypto Accessibility

Vitalik Buterin Back in Crypto Billionaire Ranks as Ethereum Tops $4,000

New Altcoin ETF Filing Hits the Market—And It’s Not SOL, XRP, or AVAX

TAGGED:crypto minersGPU salesshareholdersSupreme Court

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article XRP on the Edge: Will Ripple's Crypto Bounce Back? Key Levels to Watch XRP on the Edge: Will Ripple’s Crypto Bounce Back? Key Levels to Watch
Next Article highlighting Bitcoin volatility with Bollinger Bands analysis. The image features a glowing Bitcoin logo surrounded by Bitcoin Market on Alert: Bollinger Bands Signal Imminent Volatility
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English