DECIDED DECEMBER 11, 2024

604 U.S. ___ · No. 23-970

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NVIDIA v. E. Ohman J:or Fonder AB

Cert. dismissedProcedural ruling
investor lawsuitssecurities litigationtechnology companiescourt procedure

Per curiam

The Supreme Court dismissed Nvidia's appeal without deciding anything on the merits, concluding it should not have taken the case in the first place. The Ninth Circuit's ruling below is left in place.

How it got here: The Ninth Circuit ruled against Nvidia; Nvidia petitioned the Supreme Court, which agreed to hear the case but then dismissed it without deciding the merits.

The Case in Depth

What happened

Nvidia Corporation and related defendants were sued by E. Ohman J:or Fonder AB and other investor plaintiffs. The case reached the Ninth Circuit, which issued a ruling. Nvidia petitioned the Supreme Court to review it, and the Court agreed — but after briefing and argument, concluded it had been wrong to take the case.

The question before the Court

Should the Supreme Court have agreed to decide the legal dispute Nvidia brought from the Ninth Circuit against a group of investor plaintiffs?

The Court's answer

No — the Court dismissed the case without deciding the underlying legal questions, finding it had been a mistake to agree to hear the appeal. This kind of dismissal, called "dismissed as improvidently granted," leaves the Ninth Circuit's ruling in place as if the Supreme Court had never stepped in.

Curious how the Court got there? See the step-by-step legal reasoning →

Why it matters

The Ninth Circuit's decision stands as the controlling law, and the investor plaintiffs and Nvidia are bound by it. The Supreme Court's dismissal leaves the underlying legal questions unresolved at the national level, meaning other circuits may continue to handle similar cases differently.

What changes now

The Ninth Circuit's decision is the final word on this dispute. The parties return to the lower courts to proceed under that ruling. Because the Supreme Court issued no merits opinion, the legal questions Nvidia raised remain unresolved at the national level and could return to the Court in a future case presenting the same issues more cleanly.

What this does not decide

The order decides nothing about the underlying merits of the investors' claims against Nvidia or the legal standards applicable to those claims. It leaves the Ninth Circuit's ruling in place but does not endorse or approve it.

How the Court got there

The legal reasoning, step by step

  1. The Court issued a one-line per curiam order — an unsigned opinion for the whole Court — saying only that the writ of certiorari (its earlier agreement to hear the case) was dismissed as improvidently granted. No legal reasoning was provided.
  2. A dismissal as improvidently granted means the Court decided, after reviewing the full record and briefing, that the case was not a suitable vehicle for resolving the legal question it had originally accepted — often because of unforeseen procedural complications, factual ambiguities, or a mismatch between the question presented and the actual record.
  3. Because no merits ruling was issued, the Ninth Circuit's decision stands unchanged and has no Supreme Court precedent layered on top of it.

Supreme Court Opinion

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