Key facts
- The complaint accuses Nvidia and Huang of concealing his ties with a suspected Chinese spy.
- Shareholders led by Mark Kistenmacher seek unspecified damages from the defendants.
- The lawsuit was filed five minutes after the US stock market closed.
- Jensen Huang told Nvidia employees he had been unfaithful to his wife, without disclosing details of the alleged relationship.
- Nvidia did not immediately respond to a request for comment.
Nvidia and Chief Executive Jensen Huang were sued on November 9 in a proposed class action accusing them of defrauding shareholders by concealing Huang's ties with a suspected Chinese spy.
According to a complaint filed in federal court in San Jose, California, the defendants misled shareholders about Huang's alleged affair with Alice Huang, a former executive of Singapore-based Megaspeed who is not related to him. The complaint says they did not disclose that the matter raised national security concerns that threatened Nvidia's reputation and business prospects.
The New York Times reported last month about the alleged relationship, and that US authorities had concluded Alice Huang was a Chinese intelligence asset. Jensen Huang told Nvidia's employees he had been unfaithful to his wife, without disclosing details of the alleged relationship.
Nvidia announced a probe into the matter on Sunday. Its shares closed down 4.3% on Monday.