Nvidia and Jensen Huang sued by shareholders over affair with alleged Chinese spy
Also reported by BBC World
Summary
Nvidia and CEO Jensen Huang face a shareholder lawsuit alleging they misled investors by not disclosing that Huang’s reported relationship with Alice Huang raised national security concerns. Nvidia says it is conducting an independent investigation, and Huang says he will cooperate; the company’s shares fell 4.3% on Monday.Key Facts
- The lawsuit was filed in federal court in San Jose, California, by shareholders led by retail investor Mark Kistenmacher.
- The shareholders seek unspecified damages and allege that Nvidia and Huang failed to disclose risks to the company’s reputation and business prospects.
- Alice Huang is described as a former executive of Singapore-based Megaspeed and is not related to Jensen Huang.
- The New York Times reported that U.S. authorities had concluded Alice Huang was a Chinese intelligence asset; the article presents this as a reported finding.
- Nvidia announced on Sunday that it was independently investigating reports that Jensen Huang was the target of a foreign intelligence effort.
- Jensen Huang told Nvidia employees he had been unfaithful to his wife but did not disclose details of the alleged relationship.
- President Donald Trump said the FBI was investigating the matter and quoted Jensen Huang as saying he had no idea the person in question was a spy.
- Nvidia shares fell 4.3% on Monday, reducing the company’s market value by about $190 billion.
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