Nvidia's Troubles Mount As DOJ, SEC Throw Their Weight Behind Class Action Lawsuit Alleging AI Chip Giant Misrepresented Crypto Revenue
Portfolio Pulse from Aniket Verma
Nvidia is facing a class action lawsuit backed by the DOJ and SEC, alleging it misrepresented cryptocurrency revenue as gaming revenue. The lawsuit, initially dismissed, has been revived by an appeals court. Nvidia's stock saw a slight increase but declined marginally in after-hours trading.
October 04, 2024 | 9:48 am
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Nvidia is embroiled in a legal battle as the DOJ and SEC support a lawsuit alleging it misrepresented crypto revenue. This legal challenge could impact investor confidence and stock volatility.
The backing of the DOJ and SEC adds significant weight to the lawsuit, potentially affecting Nvidia's reputation and investor confidence. Legal challenges can lead to stock volatility, as seen with the slight rise and after-hours decline in NVDA stock.
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RELEVANCE 100