Nvidia, Jensen Huang sued after spy-linked scandal erased $190 billion

Nvidia and Chief Executive Jensen Huang were sued in federal court in San Jose, California, in a proposed class action accusing them of misleading shareholders about Huang’s ties to Alice Huang, a former executive at Singapore-based Megaspeed whom US authorities suspect was a Chinese intelligence asset. The suit landed a day after Nvidia opened an independent board investigation and after Huang told employees he had been unfaithful to his wife. Nvidia shares fell 4.3% on Monday, wiping about $190 billion from the chipmaker’s market value. Shareholders led by Mark Kistenmacher seek unspecified damages, arguing the company concealed risks to Nvidia’s reputation and business tied to the controversy.