NVIDIA Beats Investors’ Cryptocurrency Mining Revenue Suit

NVIDIA Corp. is free of a would-be class suit accusing it of misleading investors about revenue related to cryptocurrency mining after a federal judge in California threw out the case.

The graphics processing unit designer’s investors took issue with some NVIDIA statements about whether cryptocurrency miners or gamers were behind increased sales, but they failed to adequately plead the state of mind needed for liability, the U.S. District Court for the Northern District of California said.

The Private Securities Litigation Reform Act requires investors to allege particular facts giving rise to a strong inference of intent in securities fraud ...