December 11, 2024 – 7:39 AM PST
WASHINGTON (Reuters) – The U.S. Supreme Court sidestepped on Wednesday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing artificial intelligence chipmaker Nvidia (NVDA.O) of misleading investors about how much of its sales depended on the volatile cryptocurrency market.
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The justices, who heard arguments in the case on Nov. 13, dismissed Nvidia’s appeal of a lower court’s ruling that allowed a 2018 class action – litigation led by the Stockholm, Sweden-based investment management firm E. Ohman J:or Fonder AB – to move forward.
The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been granted. Its action leaves the lower court’s decision in place. The Supreme…
