That is irrelevant. The SEC also didn't go and check what people were using their NVIDIA GPUs for. The problem is that NVIDIA leadership knew/believed that a p

That is irrelevant. The SEC also didn't go and check what people were using their NVIDIA GPUs for. The problem is that NVIDIA leadership knew/believed that a proportion X of their GPUs were being bought for crypto mining (thus tying demand with crypto prices), while they reported to investors a different number, Y, with Y < X. This is material information that they simply lied about, which is illegal for a publicly traded company. In fact, the lawsuit could have happened even if Y > X. If NVIDIA had reported the same numbers they did, and people had been in fact using them at the same rate that they did, but NVIDIA hadn't known about it, then nothing illegal would have happened. If NVIDIA had later found out and disclosed this to investors, again no lawsuit (though perhaps share prices would have changed, one way or another).