The US Supreme Court dismissed an NVIDIA case it previously agreed to hear as “improvidently granted.” In other words: “Oops, we never should’ve taken this one.” The decision lets most of the lawsuit, brought by shareholders against the chip maker, proceed.
An investment firm and a pension fund brought the case against NVIDIA, claiming the company misled investors about its reliance on the crypto-mining industry. The suit claims NVIDIA concealed its dependence on the market before a 2018 crash that sunk the chip maker’s stock prices. (For better or worse, cryptocurrency has rebounded, and Bitcoin recently passed the $100,000 plateau for the first time.)
The court’s unanimous dismissal reflected its apparent aversion to hearing the case’s complex technical details. “The writ of certiorari is dismissed as improvidently granted” is all the decision said. That language…
