Nvidia Corp, a GPU inventor firm has been <a href="https://www.courtlistener.com/docket/8490233/in-re-nvidia-corporation-securities-litigation/" target="_blank" rel="nofollow noopener">accused</a> of misrepresenting a huge amount of sales. A class-action lawsuit has been filed against the firm accusing that it violated the Securities and Exchange Act as it has misrepresented around $1 billion in sales to minimize the reliability of the firm on sales to <a href="https://www.cryptoknowmics.com/news/crypto-miners-in-china-are-cautiously-optimistic-for-bitcoin-halving/" target="_blank" rel="noopener">crypto miners</a>.

The complaint was filed against Nvidia on May 14 in which it has been clearly mentioned that the firm has intentionally issued the misleading statements. It has been estimated that the sales miners which have been claimed by the firm are half of the firm’s actual sale. Back in 2018, the firm faced lawsuits from investors when its stock price crashed by around 30%.
<h2>Nvidia accused of deceiving the market</h2>
In the complaint filed against Nvidia, it has been stated that the firm has deceived the market as it made people believe that its revenues related to the cryptocurrency is very small. It has also misrepresented that the sales growth in the gaming segment is from the huge demand from the gamers.

According to a report, it has been revealed that the firm has confused people regarding the sale and it has obfuscated around $1.35 billion in sales.
<h2>Misinterpreted demand from crypto miners</h2>
In the lawsuit, the plaintiffs have also accused the firm of hiding the huge increase in the demand from crypto miners. Nvidia has misinterpreted the actual demand which came from the crypto miners and represented that the demand came from the gamers. This is because the demand from gamers goes directly to the gaming revenue of the firm. 

Back in 2017, the Nvidia became quite popular among the crypto miners due to the huge amount of profit that the firm was gaining from its gaming division. The investors have also claimed in the lawsuit that the firm has falsely asserted about the crypto revenues by saying that they are very small which is based on the performance of crypto SKU.

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Nvidia Corp Faces Lawsuit for Violating Securities Exchange Act

A class action lawsuit has been filed against Nvidia Corp accusing that it violated the Securities and Exchange Act and misrepresented $1 billion in sales.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Nvidia Corp Faces Lawsuit for Violating Securities Exchange Act

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