Supreme Court allows investors’ class action to proceed against microchip company Nvidia
Associated PressWASHINGTON — The Supreme Court is allowing a class-action lawsuit that accuses Nvidia of misleading investors about its past dependence on selling computer chips for the mining of volatile cryptocurrency to proceed. The court’s decision Wednesday comes the same week that China said it is investigating the the microchip company over suspected violations of Chinese anti-monopoly laws. Nvidia had argued that the investors’ lawsuit should be thrown out because it does not measure up to a 1995 law, the Private Securities Litigation Reform Act, that is intended to bar frivolous complaints. The justices also dismissed an appeal from Facebook parent Meta that sought to end to a multibillion-dollar class action investors’ lawsuit stemming from the privacy scandal involving the Cambridge Analytica political consulting firm.
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