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Nvidia, Jensen Huang sued for allegedly hiding affair
Shareholders sued Nvidia and CEO Jensen Huang in a proposed class action filed on November 9 in federal court in San Jose, California.
The suit alleged they misled investors about his ties to Alice Huang, a former executive at Singapore-based Megaspeed, an Nvidia customer, who is not related to him.
The complaint said Nvidia and Huang concealed an affair and related national security concerns that threatened the chipmaker’s reputation and business prospects.
A report last month said US authorities had concluded Alice Huang was a Chinese intelligence asset.
Huang told Nvidia employees he had been unfaithful to his wife without giving details.
Nvidia announced an investigation on November 8 and did not immediately respond to a request for comment.
Nvidia shares closed down 4.3% on November 9, wiping about US$190 billion from the company’s market value.
Shareholders led by Mark Kistenmacher sought unspecified damages.
🔗 Source: Reuters
