Nvidia Stock-Drop Suit Over Crypto Sales Trimmed Down
Law360 (March 16, 2020, 6:44 PM EDT) -- Nvidia Corp. largely escaped a proposed class action accusing it of lying about its ability to keep up with a boom in cryptocurrency mining after a California federal judge ruled there's no evidence that the company intentionally misrepresented its shareholders' losses.
U.S. District Judge Haywood S. Gilliam Jr. trimmed the suit Monday, finding the technology company's investors didn't show it had knowingly made false statements about its inventory of graphic processing units, or GPUs, which can be used for creating computer graphics in video games and for mining certain cryptocurrencies.
The investors' claims of falsity were based "entirely" on the expert...
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