11:29 AM EDT, 06/17/2024 (MT Newswires) -- (Updates with further details in second to fourth paragraphs, attempt to reach the company for comment in fifth paragraph)

The US Supreme Court on Monday granted Nvidia's ( NVDA ) petition for a review of a shareholder lawsuit accusing the company of misleading investors about the impact of cryptocurrency sales on its financial performance.

The company made the petition after the US Court of Appeals for the Ninth Circuit revived a class action suit against it filed in 2018.

The appeals court reversed a 2021 order by US District Judge Haywood Gilliam Jr. dismissing the lawsuit that accused the company of understating its crypto revenues by about $1 billion in statements made in 2017 and 2018.

In asking the Supreme Court justices to take up its appeal, Nvidia ( NVDA ) said the lower court's decision to resurrect the lawsuit

would open the door to "abusive and speculative litigation," according to a Reuters report.

Nvidia ( NVDA ) did not immediately reply to MT Newswires' request for comment.

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