NVIDIA Investors Gain Class Status in Crypto Mining Suit (1)

NVIDIA Corp. investors can proceed as a class with securities fraud claims against the company and its CEO over product sales that slumped with a 2018 cryptocurrency downturn, a federal judge ruled Wednesday.

The tech giant failed to rebut a presumption of class-wide reliance by asserting that alleged misstatements about channel management and revenue tied to crypto miner sales had no impact on its stock price, Judge Haywood S. Gilliam Jr. said, certifying a class of those who acquired NVIDIA common stock from Aug. 10, 2017, through Nov. 15, 2018.

Meanwhile investors adequately supported their claims that a November 2018 ...