These aren’t the best weeks for Nvidia. The company is facing a class action lawsuit from its investors, and new data is emerging that shows that some practices in the company were not entirely honest. It has been revealed that during the cryptocurrency boom, company executives, including the company’s CEO, sold millions of shares in the company. The moment the prices of the same category reached the upper limit.
The executives of Nvidia sold their shares during the high value of the crypto coins
These shares were devalued very quickly and are now worth less than half. A similar action as the ex-CEO of Intel after Spectre and Meltdown were unveiled.
A new scandal in Nvidia
In this way, these executives of the company made millionaire profits on the sale of these shares. While the people who bought them have lost a large amount, given the devaluation of the same. A new scandal for Nvidia in a few weeks, which makes it clear that the situation in the company is not the best.
The data is published as part of the class action lawsuit against the company. These shares had the desired effect of increasing the price of each share of the company. The company’s CEO sold 11,000 of his personal shares and earned $18 million.
The CEO of the company or the executives have not yet published any notices. But the truth is that even after the class-action lawsuit was announced, they have not made any statements about it in these weeks.
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