The U.S. SEC supports the U.S. Supreme Court's approval of the class action lawsuit accusing Nvidia of concealing cryptocurrency mining revenue

2024-10-04 16:17:02

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ChainCatcher news, according to Cointelegraph, the U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) have informed the U.S. Supreme Court that the class action lawsuit accusing Nvidia of misleading cryptocurrency miners during sales should be allowed to proceed.

Since 2018, Nvidia has been in a legal battle with investor groups, and the case has now reached the U.S. Supreme Court.

In a brief filed on October 2, U.S. Acting Attorney General Elizabeth Prelogar and SEC senior attorney Theodore Weiman argued that the lawsuit "provides sufficient detail" to allow it to continue after being dismissed in district court, adding that the Supreme Court should greenlight the restoration of the lawsuit through the appellate court.

The brief further stated, "Valuable private litigation is an important complement to the criminal prosecutions and civil enforcement actions of the Department of Justice and the SEC."

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