The Securities and Exchange Commission’s (SEC) May 6 press release cited Nvidia for « Inadequate Disclosures about Impact of Cryptomining. » The SEC alleges that Nvidia did not report…
Facepalm: The SEC issued a $5.5 million fine to Nvidia after determining it failed to declare critical sales data in its 2017-2018 revenue reports. The slap-on-the-wrist penalty was accompanied by a formal statement that Nvidia did not disclose cryptomining as a significant source of its revenue growth during the period in question, thereby depriving potential investors of crucial information. The Securities and Exchange Commission’s (SEC) May 6 press release cited Nvidia for « Inadequate Disclosures about Impact of Cryptomining. » The SEC alleges that Nvidia did not report their increased crypto-based sales as required by Form 10-Q, instead attributing the increase to gaming-related growth. The omitted sales information and fluctuations left investors with an incomplete picture of the company’s performance, which is key to analyzing business risk and investment potential.
