Supreme Court seems likely to allow class action to proceed against tech company Nvidia

Associated Press

WASHINGTON (AP) — The Supreme Court seems likely to keep alive a class-action lawsuit accusing Nvidia of misleading investors about its dependence on selling computer chips for the mining of volatile cryptocurrency. The justices heard arguments Wednesday in the tech company’s appeal of a lower-court ruling allowing a 2018 suit led by a Swedish investment management firm to continue. It’s one of two high court cases involving class-action lawsuits against tech companies. Last week, the justices wrestled with whether to shut down a multibillion-dollar class action investors’ lawsuit against Facebook parent Meta stemming from the privacy scandal involving the Cambridge Analytica political consulting firm. Nvidia is among the most valuable companies in the S&P 500, worth over $3 trillion.