Supreme Court Declines to Consider New Pleading Standard for Securities Fraud Claims
On December 11, 2024, the Supreme Court dismissed NVIDIA Corporation’s appeal, allowing a class action securities fraud case to move forward towards trial. The Plaintiffs originally brought the case in the United States District Court for the Northern District of California, alleging that during the class period May 10, 2017, through November 14, 2018, NVIDIA’s executives knowingly or recklessly made false or misleading statements to their investors by downplaying the potential effects that crypto mining or crypto currency sales would have on their gaming revenue.