NVIDIA Calls 9th Circuit Opinion A ‘Gutting’ Of Securities Rules, Seeks Rehearing

(October 12, 2023, 1:45 PM EDT) -- SAN FRANCISCO — Computer manufacturer NVIDIA Corp. filed a petition for rehearing en banc before the Ninth Circuit U.S. Court of Appeals, arguing that the appeals court created a “gaping loophole” for plaintiffs to bypass the Private Securities Litigation Reform Act of 1995 (PLSRA) by partially reversing the dismissal of a complaint filed by shareholders who accused the company and certain of its executives of making misleading statements about the impact of cryptocurrency-related sales on the company....