Nvidia is facing a class-action lawsuit over allegations that it hid its crypto mining revenue from

Nvidia Faces Class Action Lawsuit Over Crypto Mining Revenue Disclosures

A federal judge just gave the green light for a securities fraud class action against Nvidia and its CEO, Jensen Huang. Investors claim the company downplayed how much of its gaming GPU revenue was actually tied to crypto mining back in 2017 and 2018.

Internal emails reportedly showed executives believed the stock price was staying high because of what the company was telling investors. Then came the reckoning. In November 2018, Nvidia disclosed that crypto-related sales were dropping. The stock tanked—losing about 28.5% in just two trading days.

This isn't the first time the company has faced heat over this. Back in 2022, the SEC hit Nvidia with a $5.5 million fine for failing to disclose how crypto mining was impacting its business.

The lawsuit itself has been bouncing around for years. It was first filed in 2018, dismissed in 2021, then revived on appeal. After the Supreme Court rejected Nvidia's appeal, it's now moving forward as a class action. The case covers investors who bought Nvidia stock between August 10, 2017, and November 15, 2018. A status conference is set for April 21st.