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ARGUMENT ANALYSIS

Justices debate particularity of complaint in NVIDIA securities fraud suit

By Ronald Mann on Nov. 14 at 11:48 a.m.

The Supreme Court heard arguments on Wednesday in a dispute over the standard for evidence in a securities fraud class action based on allegedly false statements. The dispute involves statements by NVIDIA about the extent to which its profits depended on sales to the volatile crypto-mining market. For the most part, the justices who spoke seemed to think the dispute was too fact-specific to warrant their attention.

Supreme Court building with fall foliage

Wednesday’s argument was the second of two cases the justices heard this month involving securities fraud suits against major tech companies. (Katie Barlow)

SCOTUS NEWS

Supreme Court rejects Mark Meadows’ appeal in 2020 election interference case

By Amy Howe on Nov. 12 at 11:09 a.m.

The justices turned down a plea from former White House chief of staff Mark Meadows, rejecting his effort to move his 2020 election interference charges in Georgia to federal court where he hoped to argue that, as a “federal officer,” he was immune from prosecution. The court also turned down a group of landlords’ challenges to New York’s rent stabilization laws. The court did not add any new cases to its docket for the current term.

PETITIONS OF THE WEEK

FCC asks court to uphold constitutionality of nationwide rural phone and internet subsidies

By Kalvis Golde on Nov. 12 at 12:07 p.m.

A weekly look at new and notable petitions seeking Supreme Court review. This week: The Federal Communications Commission asks the justices to uphold the constitutionality of its Universal Service Fund, the initiative that provides cheaper rates for phone and internet access to remote areas, low-income families, and public schools and libraries.

ARGUMENT ANALYSIS

Justices skeptical about Facebook’s data breach disclosure to investors

By Ronald Mann on Nov. 7 at 12:12 p.m.

In a dispute over whether a forward-looking risk disclosure that Facebook made to investors about data breaches was misleading when it did not disclose that Cambridge Analytica had already taken the private data of 30 million users, several of the justices were skeptical of Facebook’s position. But at least three of the court’s conservatives were sympathetic to the argument that because the disclosure was about future events, it was not misleading.

Advocates in Conversation

San Francisco City Attorney David Chiu on the city’s Clean Water Act case

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WHAT WE'RE READING

The morning read for Thursday, Nov. 14

By Ellena Erskine on Nov 14, 2024 at 11:19 am

Each weekday, we select a short list of news articles and commentary related to the Supreme Court. Here’s the Thursday morning read:

WHAT WE'RE READING

The morning read for Wednesday, Nov. 13

By Ellena Erskine on Nov 13, 2024 at 9:48 am

The world’s most valuable company is before the justices today for oral arguments in NVIDIA Corp. v. E. Ohman J:or Fonder AB. Each weekday, we select a short list of news articles and commentary related to the Supreme Court. Here’s the Wednesday morning read:

CASE PREVIEW

Court considers dispute over disclosure of NVIDIA sales to crypto miners

By Ronald Mann on Nov 12, 2024 at 2:13 pm

NVIDIA, the world’s most valuable company, sells computer graphics processing chips designed primarily for use in video games, which it sells to manufacturers of game devices. As it happens, NVIDIA’s chips also are useful for mining cryptocurrency, and in 2017 many crypto miners started to buy NVIDIA chips for that purpose. As that use increased, NVIDIA’s chip sales increased. But in 2018, when the price of bitcoin went through a period of sharp decline, reducing the incentive for crypto mining, NVIDIA’s sales declined.

Shareholders responded by filing the proposed class action here, alleging that NVIDIA executives (including CEO Jensen Huang) made false and misleading statements about the extent to which use in crypto mining was propping up NVIDIA’s chip sales. The U.S. Court of Appeals for the 9th Circuit allowed the action to proceed, and the Supreme Court agreed to review the matter.

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WHAT WE'RE READING

The morning read for Tuesday, Nov. 12

By Ellena Erskine on Nov 12, 2024 at 10:57 am

The justices are convening today for oral arguments in Velazquez v. Garland and Delligatti v. U.S. Each weekday, we select a short list of news articles and commentary related to the Supreme Court. Here’s the Tuesday morning read:

WHAT WE'RE READING

The morning read for Friday, Nov. 8

By Ellena Erskine on Nov 08, 2024 at 10:43 am

Each weekday, we select a short list of news articles and commentary related to the Supreme Court. Here’s the Friday morning read:

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