Stock Groups

Nvidia to pay $5.5M as part of SEC case concerning ‘inadequate disclosures’ around crypto mining -Breaking

[ad_1]

Nvidia pays $5.5M to settle SEC’s case about ‘inadequate Disclosures’ regarding crypto mining

The United States Securities and Exchange Commission, or SEC, has announced that it has settled charges against Nvidia (NASDAQ:) — the company behind graphics cards used by many crypto miners — in regards to “inadequate disclosures.”

SEC Announces Friday’s Decision that Nvidia failed to disclose that mining cryptocurrencies was “a significant element of its material revenue growth” based on sales of its graphics processing units, or GPUs, during the 2018 fiscal year. Nvidia has been ordered to cease and desist due to violations of Securities Act of 1933, as well as disclosures under the Securities Exchange Act of 1934.