FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
WASHINGTON (Reuters) - The U.S. Supreme Court agreed on Monday to hear a bid by Nvidia to scuttle a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales went to the volatile cryptocurrency industry.
The justices took up Nvidia's appeal made after a lower court revived a proposed class action brought by shareholders in California against the company and its CEO Jensen Huang. The suit, led by the Stockholm, Sweden-based investment management firm E. Ohman J:or Fonder AB, seeks unspecified monetary damages.
