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Monday, 9 December 2019

Nvidia lawyer pushes court to dismiss cryptocurrency mining chip lawsuit


Graphics card manufacturer Nvidia has argued that investors cherry-picked corporate statements while ignoring others that supposedly showed transparency, as a lawsuit over its failing cryptocurrency mining chips intensifies. Nvidia‘s legal counsel also claimed that investors can’t rely on “speculative expectations of third-party analysts” as the basis of their suit, which should be dismissed, Law360 reports. Spurned investors have alleged that Nvidia‘s financial reports misled them into believing that high-demand for its gaming chips was entirely separate from the cryptocurrency boom. Their suit claims the firm had told analysts that most of its cryptocurrency-related sales came from its Crypto SKU, a…

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