NVIDIA and CEO Jensen Huang sued by shareholders over alleged misleading statements
NVIDIA shareholders have filed a lawsuit against the company and CEO Jensen Huang, alleging they misled investors about his relationship with a woman accused of being a Chinese spy, causing significant financial losses. The complaint, filed by shareholder Mark Kistenmacher, seeks class action status for investors who bought NVIDIA shares between October 9 and November 8. It claims NVIDIA's denial of an unusual relationship was false, following a New York Times report and Huang's subsequent admission of an affair. NVIDIA's shares have plummeted, with the company losing over $470 billion in market value in two days. The lawsuit alleges shareholders suffered major damages due to the company's wrongful acts and omissions regarding the CEO's conduct.