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NVIDIA Corp. v. E. Ohman J: or Fonder AB

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Supreme Court of the United States
NVIDIA Corp. v. E. Ohman J:or Fonder AB
Term: 2024
Important Dates
Argued: November 13, 2024
Decided: December 11, 2024
Outcome
Pending
Vote
N/A
Majority
Per curiam

NVIDIA Corp. v. E. Ohman J:or Fonder AB is a case that was decided by the Supreme Court of the United States on December 11, 2024, during the court's October 2024-2025 term. The case was argued before the Supreme Court of the United States on November 13, 2024, during the court's October 2024-2025 term.

In a per curiam ruling, the Court dismissed the case as improvidently granted.[1] A per curiam decision is issued collectively by the court. The authorship is not indicated.

HIGHLIGHTS
  • The issue: The case concerned proving or demonstrating scienter related to securities fraud lawsuits, based on internal company documents.[2] Click here to learn more about the case's background.
  • The questions presented: "1. Whether plaintiffs seeking to allege scienter under the PSLRA based on allegations about internal company documents must plead with particularity the contents of those documents. 2. Whether plaintiffs can satisfy the PSLRA's falsity requirement by relying on an expert opinion to substitute for particularized allegations of fact."[3]
  • The outcome: The U.S. Supreme Court dismissed as improvidently granted.


    • The case came on a writ of certiorari to the United States Court of Appeals for the Ninth Circuit. To review the lower court's opinion, click here.

    Background

    Case summary

    The following are the parties to this case:[4]

    • Petitioner: NVIDIA Corporation, et al.
      • Legal counsel: Neal Kumar Katyal (Hogan Lovells US LLP)
    • Respondent: E. Ohman J:or Fonder AB, et al.
      • Legal counsel: Deepak Gupta (Gupta Wessler LLP)

    The following summary of the case was published by SCOTUSblog:[5]

    “

    In NVIDIA Corp. v. E. Ohman J:or Fonder AB, the company argues that the 9th Circuit decision deepened one split among the courts of appeals and created a second. It contends that only one court of appeals agrees with the 9th Circuit’s ruling on knowledge of wrongdoing, while five other circuits have held that plaintiffs seeking to plead such knowledge based on internal company documents must plead with particularity the actual contents of those documents.

    It also alleges that the 9th Circuit created a split as the court diverged from opinions of two other courts of appeals holding that a plaintiff’s expert opinion could not substitute for particularized allegations of falsity.[6]

    		”

    To learn more about this case, see the following:

    Timeline

    The following timeline details key events in this case:

    Questions presented

    The petitioner presented the following questions to the court:[3]

    Questions presented:
    “ 1. Whether plaintiffs seeking to allege scienter under the PSLRA based on allegations about internal company documents must plead with particularity the contents of those documents. 2. Whether plaintiffs can satisfy the PSLRA's falsity requirement by relying on an expert opinion to substitute for particularized allegations of fact.[6] ”

    Oral argument

    Audio

    Audio of oral argument:[8]




    Transcript

    Transcript of oral argument:[9]

    Outcome

    In a per curiam ruling, the Court dismissed the case as improvidently granted.[1] A per curiam decision is issued collectively by the court. The authorship is not indicated. Click here for more information.

    Text of the opinion

    Read the full opinion here.

    October term 2024-2025

    See also: Supreme Court cases, October term 2024-2025

    The Supreme Court began hearing cases for the term on October 7, 2024. The court's yearly term begins on the first Monday in October and lasts until the first Monday in October the following year. The court generally releases the majority of its decisions in mid-June.[10]


    See also

    External links

    Footnotes

    1. ↑ 1.0 1.1 U.S. Supreme Court, NVIDIA CORPORATION, ET AL., PETITIONERS v. E. OHMAN J:OR FONDER AB, ET AL., decided December 11, 2024
    2. ↑ SCOTUSblog, "Supreme Court adds four cases to next term’s docket," June 17, 2024
    3. ↑ 3.0 3.1 U.S. Supreme Court, "23-970 NVIDIA CORP. V. E. OHMAN J:OR FONDER AB," June 17, 2024
    4. ↑ Supreme Court of the United States, "No. 23-970," accessed August 19, 2024
    5. ↑ SCOTUSblog, "Six cases to look out for," June 13, 2024
    6. ↑ 6.0 6.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
    7. ↑ United States Court of Appeals for the Ninth Circuit, E. Ohman J v. Nvidia Corp., decided August 25, 2023
    8. ↑ Supreme Court of the United States, "Oral Argument - Audio," argued November 13, 2024
    9. ↑ Supreme Court of the United States, "Oral Argument - Transcript," argued November 13, 2024
    10. ↑ SupremeCourt.gov, "The Supreme Court at Work: The Term and Caseload," accessed January 24, 2022
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