The SEC fined Nvidia $5.5M for not disclosing how crypto mining affected its revenue, forming part of the backdrop to the class action.

A U.S. district court has allowed a class action lawsuit against Nvidia and CEO Jensen Huang to proceed following investor claims that over $1 billion of the company’s crypto revenue was actually hidden in its gaming offering.

The tech giant also failed to prove that its statements on crypto mining revenue did not affect the firm’s stock price.

False Statements

A Wednesday filing suggests that during the 2017-2018 crypto boom, Nvidia misled investors by having them believe they were buying its gaming GPUs. However, the sales were…