US Supreme Court Dismissed A case NVIDIA previously agreed to hear was “provisionally granted.” In other words: “Oh, we never should have had that.” The ruling allows most of the lawsuits brought by shareholders against the chip maker to go forward.
An investment firm and a pension fund brought a case against NVIDIA, claiming the company misled investors about its reliance on the crypto-mining industry. The lawsuit claims that NVIDIA previously hid its dependence on the market A 2018 crash That sent the chip maker’s stock prices plunging. (For better or worse, cryptocurrency has rebounded, and Bitcoin recently crossed the $100,000 plateau for the first time.)
The court’s unanimous dismissal reflects its apparent reluctance to hear the complex technical details of the case. All the judgment says is, “The writ of certiorari is dismissed as impliedly granted”. That language was a remarkable similarity Dismissal In a case SCOTUS heard last month against Meta, it was also accused of defrauding investors.
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The Washington Post Reports That justices hinted at NVIDIA’s dismissal when they heard arguments in mid-November. “It becomes less and less clear why we took this case … and … why you should win it,” Justice Elena Kagan reportedly said. . The New York Times says Court members across the ideological spectrum appeared dismayed by the arguments. “This is a very technical subject,” Justice Samuel Alito said at one point. “It seems to me that you’re asking us to engage in a type of analysis that we’re not very good at and weren’t expecting when we took this case,” Kagan said.
As thorny and ultra-high-stakes as AI Legal and ethical questions ariseWe can take solace in the fact that the highest court of the world’s most powerful country … is completely disinterested in diving into the often head-spinning technical details of Big Tech. At least the stakes in this case are very low, affecting only the finances of a crazy-rich corporation and a group of (presumably wealthy) Wall Street investors.
