Law firms lining up for a chance to bop Nvidia’s nose on behalf of its own shareholders; president Trump says FBI are sniffing around the AI company's case
It's all kicking off now.
Nvidia's CEO, Jensen Huang, has admitted to an affair with Alice Huang, an individual believed to be a Chinese intelligence asset. This revelation has led to a significant drop in the company's value, resulting in the loss of over $200 billion. Several law firms have stepped forward, urging investors to join them in seeking legal action or initiating investigations into Nvidia for alleged false or misleading statements and failure to disclose crucial information. Rosen Law Firm and Schall, Brown & Schwartz are among the firms making these claims.
Nvidia has denied the allegations regarding Jensen Huang's relationship with Alice Huang, stating that it was purely a business relationship. However, Alice Huang has been identified as a Chinese intelligence asset by US authorities, a fact that was reportedly known to the Trump administration earlier. Nvidia's board is currently conducting an investigation to determine if Jensen Huang was targeted by foreign intelligence, but they maintain that there is no evidence suggesting any compromise of national security or confidential Nvidia data.
The matter is expected to be discussed further in a closed-door meeting between Huang and Congress committee leaders on November 18. President Donald Trump, while speaking to reporters, hinted that he believed the FBI to be investigating the situation and expressed his belief in Huang's honorability. The potential class action suit, originally filed over Nvidia's actions during the 2017-18 cryptocurrency mining boom, may take an extended period to resolve, with a trial potentially occurring up to eight years after the initial events.
Written by urgent.news from PC Gamer's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
