Nvidia attorneys have argued that the ongoing court proceeding does not entitle its investors to access the company's internal records related to the "crypto craze" of 2017 and 2018.
Lawyers for the group of shareholders claim that Nvidia's lawyers convinced the former employee, dubbed "FE 5," to "disavow" several critical statements.
The manufacturing giant is accused by investors of misrepresenting revenue from 2017 and 2018, running to the tune of over $1 billion.
The chip giant is accused by a group of investors of falsely reporting the revenue as coming from its gaming chip business.
The graphics chip manufacturer avoids a massive lawsuit claiming it lied about its product supply levels.
Nvidia believes the crypto mining lawsuit doesn’t have any merit, arguing that the investors are only “cherry-picking” data to try to support their case.
The stockpiles that built up towards the end of 2017 and 2018 have been a major drag on the firm since, which has been struggling to shift units following the collapse in cryptocurrency prices.
Chipmaker Nvidia Corporation has lowered its projected revenue for the fourth quarter of the fiscal year 2019 by $500 million, to $2.2 billion.
A class-action lawsuit has been filed against Nvidia in connection with its discontinued cryptocurrency-specific business.
Nvidia third-quarter revenue fell short of expectations, as the company adjusts to lower sales of chips for cryptocurrency mining.