Lawsuit Claims Nvidia Misrepresented $1B in Sales to Crypto Miners By Cointelegraph

Lawsuit Claims Nvidia Misrepresented $1B in Sales to Crypto Miners

An amended class action complaint filed against Nvidia (NASDAQ:) Corp has accused the firm of violating the Securities Exchange Act by downplaying the extent to which its gaming revenues relied on GPU sales to cryptocurrency miners.

The complaint, filed May 14, claims that Nvidia issued deliberately misleading statements that understated more than $1 billion in GPU sales relating to crypto miners during 2017 and 2018. Claims estimate that sales to miners represented over half of the company’s total sales.

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