<story><title>SEC charges Nvidia with inadequate disclosures about impact of cryptomining</title><url>https://www.sec.gov/news/press-release/2022-79</url></story><parent_chain><item><author>Lukineus</author><text>&amp;gt; &amp;quot;NVIDIA agreed to a cease-and-desist order and to pay a $5.5 million penalty.&amp;quot;&lt;p&gt;Cost of doing business.</text></item><item><author>dean177</author><text>&amp;quot;The SEC’s order also finds that NVIDIA’s omissions of material information about the growth of its gaming business were misleading given that NVIDIA did make statements about how other parts of the company’s business were driven by demand for crypto, creating the impression that the company’s gaming business was not significantly affected by cryptomining.&lt;p&gt;The SEC’s order finds that NVIDIA violated Section 17(a)(2) and (3) of the Securities Act of 1933 and the disclosure provisions of the Securities Exchange Act of 1934. The order also finds that NVIDIA failed to maintain adequate disclosure controls and procedures. Without admitting or denying the SEC’s findings, NVIDIA agreed to a cease-and-desist order and to pay a $5.5 million penalty.&amp;quot;</text></item></parent_chain><comment><author>H8crilA</author><text>More like the SEC lacked evidence that this was intentional.&lt;p&gt;Remember about the SEC whistleblower program, if you had inside proof of intent the fine would be a lot higher, and you&amp;#x27;d get a share of the fine!</text></comment>
<story><title>SEC charges Nvidia with inadequate disclosures about impact of cryptomining</title><url>https://www.sec.gov/news/press-release/2022-79</url></story><parent_chain><item><author>Lukineus</author><text>&amp;gt; &amp;quot;NVIDIA agreed to a cease-and-desist order and to pay a $5.5 million penalty.&amp;quot;&lt;p&gt;Cost of doing business.</text></item><item><author>dean177</author><text>&amp;quot;The SEC’s order also finds that NVIDIA’s omissions of material information about the growth of its gaming business were misleading given that NVIDIA did make statements about how other parts of the company’s business were driven by demand for crypto, creating the impression that the company’s gaming business was not significantly affected by cryptomining.&lt;p&gt;The SEC’s order finds that NVIDIA violated Section 17(a)(2) and (3) of the Securities Act of 1933 and the disclosure provisions of the Securities Exchange Act of 1934. The order also finds that NVIDIA failed to maintain adequate disclosure controls and procedures. Without admitting or denying the SEC’s findings, NVIDIA agreed to a cease-and-desist order and to pay a $5.5 million penalty.&amp;quot;</text></item></parent_chain><comment><author>hef19898</author><text>Yes, on the other hand not being called out by the SEC for insufficient disclosures helps with investor trust.</text></comment>