US government backs lawsuit claiming Nvidia misled investors on crypto mining revenue

tldr; The US Department of Justice and the SEC support a class-action lawsuit against Nvidia, alleging the company misled investors about the impact of crypto mining on its 2017/2018 revenue. The agencies submitted an amicus brief urging the Supreme Court to revive the case, previously dismissed due to insufficient evidence. Investors claim Nvidia downplayed its reliance on crypto mining revenue, which became evident after a market crash. The Ninth Circuit Court reinstated the case, citing evidence that Nvidia’s CEO may have intentionally misled investors.

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