The Supreme Court ruled on Wednesday that they will not hear an appeal from Nvidia in a securities lawsuit against the company.
This means that the case can now move forward. The court made this decision without providing an explanation in a one-sentence opinion, dismissing the appeal as “improvidently granted.”
This is the second time in recent weeks that the court has dismissed an appeal in a securities case, as they did the same with Facebook’s appeal last month.
The lawsuit against Nvidia alleges that the company’s executives, including CEO Jensen Huang, misled investors about the impact of cryptocurrency miners on their sales.
Nvidia argued that the investment firm did not meet the legal requirements set by the Private Securities Litigation Reform Act, a federal law created in 1995 to prevent baseless securities litigation.
