Nvidia Says Investor Suit Over Crypto Mining Sales Still Fails
By Rachel O'Brien (June 30, 2020, 7:42 PM EDT) -- Technology company Nvidia has asked a California federal judge to toss a shareholder suit accusing it of understating more than $1 billion in crypto-related sales, saying investors are "cherry-picking" portions of executives' statements to allege fraud.
In a Monday motion to dismiss, Nvidia objected to claims in the proposed class action that it misled investors "into believing that nearly all" of the company's cryptocurrency-related graphic processing units — or GPUs — revenue came from sales of its crypto product, rather than its product geared to video gamers.
The company makes GPUs designed and marketed for video games, primarily including its "GeForce"...
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