Nvidia’s stock slid more than 4% after its board opened an investigation into Jensen Huang’s relationship with a suspected Chinese spy, and one securities law expert says the company’s earlier insistence that it was all “normal” could turn into a very expensive problem.
  • bamboo@lemmy.blahaj.zoneEnglish
    51·
    2 days ago

    I am not a lawyer but statements from Nvidia from a week ago were clearly false. When this started to come to light, there were official press statements which we now know were known to be false: https://abcnews.com/US/nvidia-responds-report-ceo-allegedly-targeted-chinese-spy/story?id=137704250

    In a statement to ABC News, a Nvidia spokesperson said Jensen Huang “talks with thousands of customer executives every year.”

    “Jensen’s interactions with Ms. Huang are not unusual or unexpected,” the statement read. “Meetings with customers are part of a CEO’s job.”

    At the very least, anyone who bought shares of Nvidia stock after this statement was made and now was deceived by the company’s statements, and is probably going to be part of a class action case.