Supreme Court Won't Decide Nvidia Securities Fraud Case After All [View all]

Source: New York Times

Supreme Court Won’t Decide Nvidia Securities Fraud Case After All
In an unsigned order, the justices dismissed the case against the tech giant as “improvidently granted,” meaning they had concluded that it had been a mistake to take it up.

By Adam Liptak
Reporting from Washington
Dec. 11, 2024, 10:18 a.m. ET

The Supreme Court, which heard arguments last month about whether to allow a lawsuit accusing Nvidia of misrepresenting its reliance on the cryptocurrency mining industry, announced on Wednesday that it would not decide the case after all.

In an unsigned, one-sentence opinion, the court dismissed the case as “improvidently granted,” meaning the justices concluded that it had been a mistake to take it up. There were no noted dissents. ... The practical effect of the decision was to leave in place an appeals court decision that had let much of the case proceed.

The move followed a similar one in November in another securities fraud case, against Facebook, which had been accused of failing to adequately disclose a data breach that allowed Cambridge Analytica to harvest the private information of millions of users. In that case, too, the dismissal let stand an appeals court ruling, allowing the case to proceed.

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Read more: https://www.nytimes.com/2024/12/11/us/politics/supreme-court-nvidia-securities-fraud.html