Investors Say Nvidia Knew Sales Depended On Crypto Mining
By Rachel O'Brien (August 14, 2020, 7:23 PM EDT) -- Investors suing technology hardware company Nvidia urged a California federal judge Thursday not to dismiss its proposed class action alleging the company understated more than $1 billion in crypto-related sales, saying it has evidence the company deliberately misled investors.
Investors say they have information that — despite Nvidia's claims to the contrary — the company knew a large portion of its sales of graphic processing units, specifically its GeForce product line, were going to miners in the volatile cryptocurrency market.
In a Thursday filing noting their opposition to the motion to dismiss, the plaintiffs said CEO Jensen Huang had access to...
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