{"id":39392,"date":"2026-03-29T22:38:45","date_gmt":"2026-03-29T22:38:45","guid":{"rendered":"https:\/\/cryptd.in\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\/"},"modified":"2026-03-29T22:38:45","modified_gmt":"2026-03-29T22:38:45","slug":"court-allows-nvidia-class-action-over-hidden-crypto-revenue","status":"publish","type":"post","link":"https:\/\/cryptd.in\/nb\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\/","title":{"rendered":"Court Allows Nvidia Class Action Over Hidden Crypto Revenue"},"content":{"rendered":"<p>A U.S. district court has allowed a class action lawsuit against Nvidia and CEO Jensen Huang to proceed following investor claims that over $1 billion of the company\u2019s crypto revenue was actually hidden in its gaming offering.<\/p>\n<p>The tech giant also failed to prove that its statements on crypto mining revenue did not affect the firm\u2019s stock price.<\/p>\n<h2>False Statements<\/h2>\n<p>A Wednesday filing <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.cand.336305\/gov.uscourts.cand.336305.288.0.pdf\">suggests<\/a> that during the 2017-2018 crypto boom, Nvidia misled investors by having them believe they were buying its gaming GPUs. However, the sales were actually tied to the crypto market, and once prices began falling, the firm was left with a lot of unsold inventory that caused its stock price to plummet.<\/p>\n<p>Plaintiffs first sued the company in 2018, <a href=\"https:\/\/www.supremecourt.gov\/DocketPDF\/23\/23-970\/326884\/20240925232131577_Nvidia%20v.%20E%20Ohman%20J%20or%20Fonder%20AB%20response%20brief.pdf\">alleging<\/a> that it had not disclosed around $1.3 billion of the total revenue made from these sales and that Huang had downplayed the actual demand. At the time, the CEO appeared in several interviews claiming that the firm\u2019s crypto-related demand was \u201csmall.\u201d He also insisted the gaming division was its core business and that crypto simply provided \u201can extra bit of juice.\u201d<\/p>\n<p>Additionally, the company launched a special crypto SKU chip whose sales were reported under its mining revenue segment. Plaintiffs argue that this was done to convince investors that Nvidia\u2019s gaming business was separate from its mining operations.<\/p>\n<p>According to the filings, the company\u2019s defense was based on the argument that these statements were not made with the intention of influencing investors and, therefore, had no price impact. However, Judge Gilliam Jr. concluded that Nvidia failed to prove this, pointing to an internal email from one of the firm\u2019s executives as evidence.<\/p>\n<blockquote>\n<p>\u201cThey expressed the view that its stock price remained high because of those earlier statements, and the court cannot conclude that there was no price impact in the face of such evidence.\u201d<\/p>\n<\/blockquote>\n<p>As a result, the court ruled that the class action was allowed to proceed and scheduled a hearing for April 21.<\/p>\n<h2>NVIDIA\u2019s Stock Price Plummets<\/h2>\n<p>Things took a turn in 2018 when the crypto market began to weaken. In August, Nvidia announced that it had lowered its revenue and admitted to miners buying its gaming GPUs. The company also shared that its inventory had grown by 36%.<\/p>\n<p>Reacting to the news, Nvidia\u2019s stock price fell by 4.9%. The tech giant later issued another revenue cut announcement, citing a fall in crypto demand.<\/p>\n<p>During this period, Colette Kress, the firm\u2019s CFO, admitted that gaming revenues had missed expectations because of unsold inventory. This resulted in the company\u2019s stock price plummeting by 28.5% over the next two trading sessions.<\/p>\n<p>Meanwhile, the U.S. Securities and Exchange Commission (SEC) previously <a href=\"https:\/\/cryptopotato.com\/nvidia-fined-5-5m-for-inadequate-disclosures-in-cryptomining-sec\/\">issued<\/a> the company a $5.5 million fine for failing to disclose how crypto mining affected its general revenue. Regulators said that it should have told investors that most of its GPU demand came from the miners.<\/p>\n<p>Innlegget <a href=\"https:\/\/cryptopotato.com\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\/\">Court Allows Nvidia Class Action Over Hidden Crypto Revenue<\/a> dukket f\u00f8rst opp p\u00e5 <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>A U.S. district court has allowed a class action lawsuit against Nvidia and CEO Jensen Huang to proceed following investor claims that over $1 billion of the company\u2019s crypto revenue was actually hidden in its gaming offering. The tech giant also failed to prove that its statements on crypto mining revenue did not affect the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":39394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-39392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Court Allows Nvidia Class Action Over Hidden Crypto Revenue - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/nb\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"nb_NO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court Allows Nvidia Class Action Over Hidden Crypto Revenue - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"A U.S. district court has allowed a class action lawsuit against Nvidia and CEO Jensen Huang to proceed following investor claims that over $1 billion of the company\u2019s crypto revenue was actually hidden in its gaming offering. The tech giant also failed to prove that its statements on crypto mining revenue did not affect the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/nb\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-29T22:38:45+00:00\" \/>\n<meta name=\"author\" content=\"cryptd.in\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Skrevet av\" \/>\n\t<meta name=\"twitter:data1\" content=\"cryptd.in\" \/>\n\t<meta name=\"twitter:label2\" content=\"Ansl. lesetid\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutter\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\\\/\"},\"author\":{\"name\":\"cryptd.in\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/person\\\/7973e8183bc6723b86adfe84d5af0ce4\"},\"headline\":\"Court Allows Nvidia Class Action Over Hidden Crypto Revenue\",\"datePublished\":\"2026-03-29T22:38:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\\\/\"},\"wordCount\":506,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/nvidia-min-X1bupi.jpg\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"nb-NO\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/court-allows-nvidia-class-action-over-hidden-crypto-revenue\\\/\",\"name\":\"Court Allows Nvidia Class Action Over Hidden Crypto Revenue - 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