Class-Action Lawsuit Casts Shadow on Nvidia’s AI Success
Source: coinpedia.org In recent months, interest in Nvidia from both investors and analysts has continued to grow with the boom in artificial intelligence. However, a looming trial has cast a shadow, creating ongoing uncertainty that has persisted for several years. The class-action lawsuit against Nvidia, filed in 2018, is still unfolding, and recent statements from the U.S. Securities and Exchange Commission (SEC) and the Department of Justice highlight their involvement in the case. The lawsuit against Nvidia , initiated by the Schall law firm, accuses the company of misrepresenting financial results related to video card sales used for cryptocurrency mining. In particular, the plaintiffs allege that Nvidia did not disclose information about the dependence of its financial results on fluctuations in the cryptocurrency market. According to the plaintiffs, this led to a distorted understanding of the company’s income. The group of investors claims that in 2017-2018, Nvidia...