Groq engineer-shareholders sue board over $20 billion Nvidia deal

Key Summary

Former Groq engineers and shareholders Benjamin Serebrin and Joshua Rubin are suing the company's board over the $20 billion deal with Nvidia, alleging they were undervalued and insiders received preferential treatment. The lawsuit claims the board failed to meet its fiduciary duty and the deal's structure favored insiders over common stockholders. The case is currently in Delaware, where a large share of corporate disputes are decided, and the DOJ is also investigating the transaction for potential antitrust violations.