Key Highlights
- A proposed securities class action has been filed against NVIDIA Corporation covering October 9, 2025 to November 8, 2026.
- The complaint alleges Nvidia made materially false or misleading statements about its relationship with Megaspeed.
- Kaplan Fox said proposed class members can ask to be lead plaintiff by January 8, 2027.
Kaplan Fox & Kilsheimer LLP said a proposed securities class action lawsuit has been filed against NVIDIA Corporation (NASDAQ: NVDA) on behalf of investors who bought or otherwise acquired Nvidia securities between October 9, 2025 and November 8, 2026.
According to the law firms announcement, the complaint focuses on statements and disclosures related to Nvidias relationship with Megaspeed, a Singapore-based data centre company, and reporting about whether advanced Nvidia artificial intelligence chips may have been steered to China despite US export restrictions.
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The release describes allegations in the complaint that, early in the class period, Nvidia and a Nvidia spokesperson stated there was no evidence that its chips had been smuggled into China. It also cites the complaints description of media reports in late October 2026, including an October 29, 2026 New York Times article and an October 30, 2026 Bloomberg report referenced in the complaint.
Kaplan Fox said the complaint alleges the truth emerged on November 8, 2026, when Nvidia issued a statement that [t]he NVIDIA Board is initiating an independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort. The release also references a New York Times article published the same day about Nvidia opening an investigation into Jensen Huangs relationship with a suspected Chinese spy.
The law firms announcement said Nvidia shares fell $7.97 per share, or 4.27%, to close at $178.67 on November 9, 2026, following the November 8 developments described in the release.
Kaplan Fox said investors who are members of the proposed class may ask the court to be appointed lead plaintiff by January 8, 2027. The firm also said investors do not need to seek lead-plaintiff status to participate in any potential recovery.
The original press release is available on stockhouse.com
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