In this Jan. 24, 2019 file photo, the Supreme Court is seen at sunset in Washington, Thursday, Jan. 24, 2019. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) --
The Supreme Court is staying out of a lawsuit involving the television show "Empire."
The high court said Tuesday it won't take a case involving the Fox show, which follows a black family navigating the ups and downs of the record industry. That means a decision in favor of "Empire" co-creators Danny Strong and Lee Daniels stands.
Actor Clayton Prince Tanksley sued in 2016, claiming that "Empire" was substantially similar to a television show he had pitched at a competition in 2008. The lawsuit said Daniels was a judge at the competition and expressed an interest in the show Tanksley called "Cream," which involved a black record executive. A trial court dismissed the lawsuit, ruling that the shows weren't substantially similar. An appeals court agreed.
A sign to a Nvidia office building is shown in Santa Clara, Calif., on Aug. 7, 2024. (AP Photo/Jeff Chiu, File)
The Supreme Court is allowing a class-action lawsuit that accuses Nvidia of misleading investors about its past dependence on selling computer chips for the mining of volatile cryptocurrency to proceed.
The court's decision Wednesday comes the same week that China said it is investigating the the microchip company over suspected violations of Chinese anti-monopoly laws. The justices heard arguments four weeks ago in Nvidia's bid to shut down the lawsuit, then decided that they were wrong to take up the case in the first place. They dismissed the company's appeal, leaving in place an appellate ruling allowing the case to go forward.
At issue was a 2018 suit led by a Swedish investment management firm. It followed a dip in the profitability of cryptocurrency, which caused Nvidia's revenues to fall short of projections and led to a 28% drop in the company's stock price.
Nvidia had argued that the investors' lawsuit should be thrown out because it does not measure up to a 1995 law, the Private Securities Litigation Reform Act, that is intended to bar frivolous complaints. A district court judge had dismissed the complaint before the federal appeals court in San Francisco ruled that it could go forward. The Biden administration backed the investors at the Supreme Court.
In 2022, Nvidia, which is based in Santa Clara, California, paid a $5.5 million fine to settle charges by the Securities and Exchange Commission that it failed to disclose that cryptomining was a significant source of revenue growth from the sale of graphics processing units that were produced and marketed for gaming. The company did not admit to any wrongdoing as part of the settlement.
Nvidia's recent performance has been spectacular. Even after the news of the China... Read More
