November 13, 2024 – 7:21 AM PST
WASHINGTON (Reuters) – The U.S. Supreme Court began hearing arguments on Wednesday in Nvidia’s bid to torpedo a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales depended on the volatile cryptocurrency market.
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Nvidia appealed a lower court’s decision allowing a 2018 class action – litigation led by the Stockholm, Sweden-based investment management firm E. Ohman J:or Fonder AB – to proceed. Arguments are ongoing.
It is one of two cases to come before the Supreme Court this month that could lead to rulings making it harder for private litigants to hold companies to account for alleged securities fraud. The other one, involving Meta’s Facebook, was argued on Nov. 6.
At issue in the Nvidia case is…
