Shareholder Mark Kistenmacher sued Nvidia and CEO Jensen Huang in federal court in San Jose on Nov. 9, seeking to represent investors who bought shares from Oct. 9 through Nov. 8, Courthouse News Service reported. The complaint accuses them of making false or misleading statements about Nvidia’s dealings with Singapore firm Megaspeed International after reports of Huang’s relationship with former Megaspeed executive Alice Huang. NBC Bay Area reported that Nvidia has said Huang will remain CEO while the board’s independent investigation continues, and that Nvidia shares fell more than 4% on Monday. The allegations have not been proven in court.
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AI / AINvidia Shareholder Files San Jose Class Action Over Huang’s Undisclosed Affair
The proposed class covers investors who bought Nvidia shares from Oct. 9 through Nov. 8. Nvidia has said Huang remains CEO during a board investigation.
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