Class Action
May 12, 2026
NVIDIA 9th Circuit petition raises critical issues for securities class actions
NVIDIA is asking the 9th Circuit to review a class certification order in a securities fraud case, arguing that the district court misapplied Supreme Court standards on classwide damages and reliance, issues that could significantly shape how securities class actions are litigated against major technology companies.
Julia A. Malkina
Partner
Sullivan & Cromwell LLP
Litigation Group and co-head of the Securities Litigation Practice
Anyone who has glanced at the business pages in recent years will be aware of the impressive rise of chip-maker NVIDIA. Since the end of 2017, NVIDIA's stockholders have enjoyed a 3,400%-plus return, and NVIDIA has become one of the most valuable companies in the world. NVIDIA's extraordinary performance has not, however, prevented the company from becoming a target of securities class action plaintiffs: in a case stemming from a (temporary) dip in NVIDIA's stock price in lat...
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