Nvidia, CEO Jensen Huang sued over disclosures related to suspected Chinese spy
Nvidia announced a probe into the matter on Sunday
Nvidia and its CEO, Jensen Huang, were sued on Monday (Nov 9) in a proposed class action, alleging the company defrauded shareholders by concealing Huang's alleged affair with Alice Huang, a former executive of a Singapore-based firm. According to the complaint filed in federal court in San Jose, California, Nvidia failed to disclose that the relationship raised national security concerns about Alice Huang's potential ties to a Chinese intelligence asset.
The New York Times reported on the alleged relationship last month. Nvidia's shares dropped 4.3% on Monday, reducing its market capitalization by around US$190 billion. The lawsuit was filed just five minutes after the US stock market closed, as shareholders, led by Mark Kistenmacher, seek unspecified damages from the defendants.
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