A lawsuit against graphics chip manufacturer NVIDIA for securities fraud was dismissed by the court.

Investors claimed that NVIDIA did not show how much their shares were at risk from sales to cryptocurrency miners rather than gaming companies.

The Supreme Court declared that it would not make a decision in the matter that it had heard arguments on last month over whether to grant a lawsuit alleging that Nvidia had misrepresented its reliance on the cryptocurrency mining sector.

This is said to be the court’s second decision in as many weeks; last month, the justices also denied Facebook's appeal in a securities case against the firm.

The Swedish investment firm Ohman J:or Fonder filed the lawsuit against Nvidia, alleging that CEO Jensen Huang and other corporate executives misled investors about how much the company's sales relied on erratic cryptocurrency miners.

The Private Securities lawsuits Reform Act, a federal legislation passed in 1995 to stop pointless securities lawsuits, set a legal hurdle that Nvidia claimed the investment firm did not clear.

Some of the justices seemed to have second thoughts about the high court's involvement in the case during last month's oral arguments. Some told Nvidia's lawyers that a general rule to make it harder for securities fraud allegations to be filed might not be necessary in this case.

After the 9th U.S. Circuit Court of Appeals overturned a decision that had dismissed the complaint, the Supreme Court agreed in June to consider Nvidia's arguments.

The Supreme Court's ruling allows the case to proceed by dismissing the chipmaker's appeal. Trial has not yet been held in this case.

These allegations go back to 2018, when the business declared that it had fallen short of revenue forecasts in the previous quarter and that its total revenues for the next quarter would be down year over year. In the two trading days after the news, the company's stock price dropped by 28.5 percent.