{"id":144591,"date":"2024-12-12T12:30:34","date_gmt":"2024-12-12T10:30:34","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144591"},"modified":"2024-12-12T12:30:47","modified_gmt":"2024-12-12T10:30:47","slug":"u-s-supreme-court-lets-nvidias-crypto-lawsuit-move-forward","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/u-s-supreme-court-lets-nvidias-crypto-lawsuit-move-forward\/","title":{"rendered":"U.S. Supreme Court Lets Nvidia&#8217;s Crypto Lawsuit Move Forward"},"content":{"rendered":"<p>This legal <strong><a href=\"https:\/\/www.supremecourt.gov\/opinions\/24pdf\/23-970_2dq3.pdf\">battle<\/a> <\/strong>stems from allegations that Nvidia misrepresented the role cryptocurrency mining played in driving the company&#8217;s revenue growth before the market&#8217;s downturn.<\/p>\n<p>Shareholders claim that CEO Jensen Huang failed to disclose the significant reliance on crypto sales, particularly its GeForce GPUs, in Nvidia\u2019s revenue surge between 2017 and 2018. The lawsuit argues that this omission misled investors and inflated the company\u2019s market position ahead of the 2018 crypto crash, which saw Nvidia\u2019s stock plummet by over 28%.<\/p>\n<p>While Nvidia attempted to have the case dismissed, arguing it lacked sufficient evidence, the court\u2019s decision is being hailed by shareholders as a win for corporate transparency. The case will now continue in federal district court in Oakland, California.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/microstrategys-bitcoin-strategy-could-lead-to-nasdaq-100-entry\/\" title=\"MicroStrategy&#8217;s Bitcoin Strategy Could Lead to Nasdaq 100 Entry\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Microstrategy-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">MicroStrategy&#8217;s Bitcoin Strategy Could Lead to Nasdaq 100 Entry<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Despite the ongoing lawsuit, Nvidia has experienced significant financial success, with its stock soaring nearly 190% this year. This growth is largely driven by the company\u2019s GPUs, which continue to dominate the crypto mining market, particularly in <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>mining. Nvidia\u2019s latest financial report highlights a 95% year-over-year revenue increase, with projections pointing to $37.5 billion in Q4.<\/p>\n<p>In addition to its crypto ventures, Nvidia is diversifying into new sectors, including humanoid robotics, signaling a broader strategic shift beyond gaming and crypto mining.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Supreme Court has declined to intervene in a lawsuit against Nvidia, allowing a shareholder case regarding the company\u2019s crypto-related earnings to move forward.<\/p>\n","protected":false},"author":9,"featured_media":144592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-144591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is 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