Justices Signal Narrow Outcome in Nvidia’s Pleading Test Request

Nvidia Corp.‘s quest for a new rule from the US Supreme Court about how investors must plead securities suits didn’t strike the chord it intended at oral argument this week.

Some justices viewed the company’s appeal as crumbling into a request for a ruling on the facts, according to lawyers who listened to the Nov. 13 argument. “There was a fair amount of hand-wringing about whether they should have even accepted this appeal,” said Stephen Warren of Holland & Knight LLP.

The chip maker sought to defeat a revived stock-drop suit over its alleged reliance on the volatile cryptocurrency ...