Nvidia Leaders Hit With Crypto-Related Insider Trading Claims

A pension fund sued Nvidia Corp.'s senior leaders, saying they lied about a sudden sales surge tied to cryptocurrency mining while a group of them made hundreds of millions on insider stock sales.

The lawsuit, made public Thursday, says members of Nvidia’s board and management hid its reliance on a short-term spike in crypto mining throughout 2017 and 2018, when company leaders were attributing high demand for its flagship graphics processor to sustainable trends involving video games.

While Nvidia’s stock soared, a C-suite executive and nine board members “self-dealt in corporate material, nonpublic information to reap enormous insider trading proceeds ...