Nvidia, Jensen Huang face shareholder suit as shares drop 4.3%

Nvidia and CEO Jensen Huang were sued in federal court in San Jose in a proposed shareholder class action that alleges they misled investors about Huang’s ties to Alice Huang, an executive linked to Singapore-based Megaspeed and identified in recent reporting as a suspected Chinese intelligence asset. The complaint seeks damages after Nvidia shares fell 4.3% Monday, erasing about $190 billion in market value. Nvidia opened an internal investigation on Nov. 8 into whether Huang was targeted by a foreign intelligence agency. The company has said it has no reason to believe national security or company secrets were compromised.