NVIDIA faces class-action lawsuit for concealing cryptocurrency mining revenue

ZkProver · 2026-03-26T06:28:07+00:00

A U.S. federal judge has approved a class-action lawsuit against NVIDIA and its CEO Jensen Huang for securities fraud. Investors allege that the company concealed income related to crypto mining, leading to a sharp decline in stock price. The case was filed in 2018 and a hearing is scheduled for April 21, 2024.

ZkProver

2026-03-26 06:28:07

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ChainCatcher reports that, according to market sources, a U.S. federal judge has approved class-action securities fraud litigation against NVIDIA and its CEO Jensen Huang.

Investors allege that NVIDIA concealed the true extent of revenue from gaming GPUs related to cryptocurrency mining between 2017 and 2018. Internal company emails showed executives believed NVIDIA’s stock “remained high due to related statements.” After NVIDIA disclosed a decline in crypto-related sales in November 2018, the stock price dropped approximately 28.5% over two trading days.

The U.S. Securities and Exchange Commission fined NVIDIA $5.5 million in 2022 for failing to disclose the impact of crypto mining on its business. The case was initially filed in 2018, dismissed in 2021, but the dismissal was overturned on appeal. After the Supreme Court rejected NVIDIA’s appeal, the case continues as a class action. The lawsuit covers investors who purchased NVIDIA stock between August 10, 2017, and November 15, 2018. A case management conference is scheduled for April 21.

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