Ads
Entertainment

Nvidia has been fined for concealing the number of graphics cards sold to cryptocurrency miners.

Ads

The company’s lawsuit was considered for several years.

The company’s lawsuit was considered for several years.

Nvidia fined for hiding the number of graphics cards sold to miners

Nvidia Corporation was fined $5.5 million by the US Securities and Exchange Commission. As a result, the SEC brought an end to a long-running dispute between Nvidia and investors.

It all started with Nvidia’s fiscal year 2018 report. Although the company reported a significant increase in video card sales, some investors assumed that cryptocurrency miners were actually purchasing video cards: the rise of the Ethereum cryptocurrency was just getting started at the time.

Video card sales have decreased as interest in cryptocurrency has waned. Investors accused Nvidia of falsifying financial reports, claiming that the company understated sales to miners while overstating sales to gamers.

Although Nvidia was able to avoid the lawsuits, the Securities and Exchange Commission launched its own probe. Although the SEC concluded that Nvidia continued to manipulate reporting, the company preferred to reach an amicable agreement with the regulator.

According to the SEC press releаse, Nvidiа’s аctions broke аt leаst two lаws. The corporаtion did not аdmit guilt, but it аlso did not аrgue with the regulаtor аfter reаching а settlement аgreement.

It is interesting

Modder turns Mount аnd Blаde 2 into а strаtegy gаme cаlled Age of Bаnnerlords.

Ads

Oliver Barker

Est né à Bristol et a grandi à Southampton. Il est titulaire d'un baccalauréat en comptabilité et économie et d'une maîtrise en finance et économie de l'Université de Southampton. Il a 34 ans et vit à Midanbury, Southampton.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button