A class action lawsuit accusing Nvidia of misleading investors about the role of crypto mining in its 2017-2018 revenue should be allowed to proceed in the U.S. Supreme Court, officials argued Tuesday.

U.S. Solicitor General Elizabeth Prelogar and SEC senior lawyer Theodore Weiman said the suit is detailed enough to be revived and allowed to proceed, according to an amicus brief filing.

The amicus brief from the Department of Justice and the Securities and Exchange Commission aims to support allegations from investors Nvidia falsely attributed the growth to gaming demand while understating how much crypto miners were boosting sales. 

The Ninth Circuit Court of Appeals’ decision to partially revive the case came after a lower court initially dismissed it. Nvidia did not immediately return a request for comment.

The filing cites firsthand accounts from former Nvidia employees. One insider, dubbed FE 1, described how Nvidia allegedly maintained a global database to track GeForce GPU sales to crypto miners. 

Another insider, FE 2, detailed CEO Jensen Huang’s alleged direct involvement in sales meetings, where the crypto im

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Author: Vismaya V