<p><img width="150" height="150" src="https://www.scotusblog.com/wp-content/uploads/2024/12/supremecourt-11-150x150.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Supreme Court dismisses NVIDIA’s securities fraud appeal" title="Supreme Court dismisses NVIDIA’s securities fraud appeal" style="float:right;" decoding="async" srcset="https://www.scotusblog.com/wp-content/uploads/2024/12/supremecourt-11-150x150.jpg 150w, https://www.scotusblog.com/wp-content/uploads/2024/12/supremecourt-11-570x570.jpg 570w, https://www.scotusblog.com/wp-content/uploads/2024/12/supremecourt-11-500x500.jpg 500w, https://www.scotusblog.com/wp-content/uploads/2024/12/supremecourt-11-1000x1000.jpg 1000w" sizes="(max-width: 150px) 100vw, 150px" />The justices on Wednesday dismissed a dispute over a securities fraud case brought against graphics chip maker NVIDIA. Shareholders argued that NVIDIA did not disclose the extent to which sales to crypto-miners, rather than gaming companies, put their shares at risk. The court heard NVIDIA...</p>
<p>The post <a href="https://www.scotusblog.com/2024/12/supreme-court-dismisses-nvidias-securities-fraud-appeal/">Supreme Court dismisses NVIDIA’s securities fraud appeal</a> appeared first on <a href="https://www.scotusblog.com">SCOTUSblog</a>.</p>
The justices on Wednesday dismissed a dispute over a securities fraud case brought against graphics chip maker NVIDIA. Shareholders argued that NVIDIA did not disclose the extent to which sales to crypto-miners, rather than gaming companies, put their shares at risk. The court heard NVIDIA Corp v. E. Ohman J:or Fonder AB just last month, but the dismissal was no surprise. The most dominant theme of the argument was repeated comments by justices that the dispute was too fact specific to warrant their attention.
The specific question in the case was whether the complaint in this case was sufficiently specific to make out an allegation of fraud under the high pleading standard for securities fraud actions under the Private Securities Legal Reform Act. Now the case will go back to the trial court to allow the investors to attempt to prove their case against NVIDIA. This is a substantial defeat for NVIDIA, which understandably had good reason to hope the justices would reverse the lower court decision once they agreed to hear the case.
Students at the University of York’s West Campus. The cap on tuition fees will rise to £9,535 a year from 2025, education secretary Bridget Phillipson…
<img src="https://api.follow.it/track-rss-story-loaded/v1/W6gx4-E1MTmSetEp91y_nHn9ye8UNv30" border=0 width="1" height="1" alt="After oral argument, court calls for new briefs in HHS task force case" title="After oral argument, court calls for new briefs in HHS task force case"> <p>Four days after hearing oral arguments in a challenge to the constitutionality of a task force within the Department of Health and Human Services, the Supreme Court <a href="https://www.supremecourt.gov/orders/courtorders/042525zr_3dq3.pdf">asked both the federal government and the challengers to file new briefs</a> discussing the HHS secretary’s power to appoint members of the task force. </p> <p>The group at the center of the case, the U.S. Preventive Services Task Force, is an independent panel of experts that – under the Affordable Care Act of 2010 – makes recommendations about services that private health insurers must cover at no additional cost to patients. </p> <span id="more-505411"></span> <p>In 2020, a group of individuals and small businesses went to federal court in Texas, where they objected on religious grounds to the requirement that insurers cover pre-exposure prophylaxis medicines, known as PrEP, which are highly effective at preventing HIV. Access to the medication, they said, “encourage[s] homosexual behavior, intravenous drug use, and sexual activity outside of marriage.” They argued, among other things, that the structure of the task force is unconstitutional because its members are not appointed by the president and confirmed by the Senate. </p> <p>The lower courts agreed with that argument, and the Supreme Court took up the case earlier this year. </p> <p>Defending the task force, the government contends that the HHS secretary exercises enough control over members of the task force that they do not need to be nominated by the president and confirmed by the Senate – for example, the government emphasizes, the HHS secretary can remove members from the task force at any time. </p> <p>But at <a href="https://www.scotusblog.com/2025/04/court-appears-to-back-legality-of-hhs-preventative-care-task-force/">Monday’s oral argument</a>, some justices (and in particular, Justice Neil Gorsuch) questioned whether the HHS secretary actually has the power to appoint members of the task force, or at the very least whether the court should reach that issue when the lower court had not yet weighed in on it. Friday’s order seeks more information on that issue from both sides, suggesting that the justices continue to be interested in it. </p> <p>Friday’s order also specifically instructs the government and the challengers to discuss two 19th-century Supreme Court decisions: the 1868 case <em><a href="https://tile.loc.gov/storage-services/service/ll/usrep/usrep073/usrep073385/usrep073385.pdf">United States v. Hartwell</a></em> and the 1888 case <em><a href="https://supreme.justia.com/cases/federal/us/124/525/">United States v. Smith</a></em>, both of which involved the question whether government officials were “officers of the United States.” </p> <p>The justices directed each side to file its brief by 2 p.m. on May 5. </p>
<p>The post <a href="https://www.scotusblog.com/2025/04/after-oral-argument-court-calls-for-new-briefs-in-hhs-task-force-case/">After oral argument, court calls for new briefs in HHS task force case</a> appeared first on <a href="https://www.scotusblog.com">SCOTUSblog</a>.</p>