Bracewell’s David Shargel spoke with Law360 about the much-watched Nvidia case, in which Nvidia Corp. has asked the Supreme Court to reverse a Ninth Circuit panel ruling allowing shareholders to proceed with their Private Securities Litigation Reform Act lawsuit.
Shargel said this case could change the way scienter, or knowledge of wrongdoing, is pled since the case relied on expert opinions and contemporaneous facts to allege the technology company knowing misled investors about the cause of its soaring prices. “If you have to plead detailed factual information about internal company documents, it could be a little harder,” he said. “If plaintiffs can rely on expert analysis, that could make the pleading standard a little less onerous.”
