NVIDIA’s U.S. shareholders sue Jensen Huang: “Pay damages for losses from stock plunge”

[Financial News] NVIDIA CEO Jensen Huang, who admitted to having an affair with a woman identified as a Chinese spy, has been sued by shareholders in a class action.
According to a complaint filed on the 9th (local time) in the U.S. District Court for the Northern District of California, Rosen Law Firm filed a lawsuit seeking damages for violations of federal securities laws against NVIDIA and CEO Huang, on behalf of shareholders including Mark Kistenmacher.
The plaintiffs alleged in the complaint that CEO Huang and NVIDIA concealed his affair with Alice Huang (Chinese name: Huang Le), who is suspected of being an agent of Chinese intelligence, as well as national security risks related to Singapore-based company Megaspeed International, where Alice Huang had worked.
The plaintiffs said that after the facts concealed by CEO Huang and NVIDIA came to light, NVIDIA’s stock plunged, causing massive losses for shareholders, and demanded compensation for losses resulting from the plunge.
NVIDIA’s stock plunged 4.27% on the 9th alone from the previous day’s closing price, ending the regular session at $178.67.
NVIDIA’s market capitalization plunged by $190 billion (approximately 260 trillion won) in a single day.
The plaintiffs in the class action are investors who acquired NVIDIA shares between October 9 last year and the 8th of this month.
Shortly after the allegations emerged, CEO Huang said through a spokesperson that his relationship with Alice Huang, a former Megaspeed executive, involved routine business meetings. But in a message on the 8th, he admitted to the affair and apologized.

[email protected] Lee Seok-woo, international affairs correspondent Reporter