Nvidia's stock fell $7.97 per share, or 4.27%, on Monday, the first trading day after its board said it would investigate CEO Jensen Huang over his relationship with Alice Huang. U.S. intelligence believes Alice Huang was spying for China, according to the report.
At least four securities firms announced investigations on Monday into whether Nvidia misled investors. They include Schall, Brown & Schwartz and Levi & Korsinsky.
A complaint was filed Monday afternoon in the Northern District of California by Rosen Law Firm on behalf of Mark Kistenmacher, a retail investor who made seven purchases totaling roughly $20,500 this year, according to the report. The proposed class covers anyone who bought Nvidia securities between Oct. 9, 2025, and Nov. 8, 2026. The suit names Nvidia and Jensen Huang and seeks unspecified damages, interest and attorneys' fees, and a jury trial.
The complaint says Nvidia and Huang misled investors about Huang's ties to Megaspeed, a Singapore-based data center company where Alice Huang was considered a top executive. It cites three statements: a late-October claim by Nvidia sp