The Inquirer-Home

Nvidia sued for violations of federal securities law

All may be revealed
Wed Sep 10 2008, 03:23

AN NVIDIA SHAREHOLDER, Lisa Miller has launched a class action lawsuit against the graphics card company.

The suit, filed in the Northern District Of California, San Jose branch by Shalov, Stone, Bonner and Rocco, LLP alleges violation of federal securities laws.

The suit is nothing shocking if you have been following the Nvidia bad chips fiasco.

See the links at the bottom of the page for more on it than you likely care to read.

The short story is this, it alleges that the defendants, Nvidia Corp, Jen-Hsun Huang and Marvin Burkett knew about the problem as early as last year, and filed SEC reports that made no mention of it and the problems it allegedly caused and are still causing for PC manufacturers and consumers.

These 'overlooked' items and some others ended up in a surprise charge of almost half a billion dollars, tanking the stock.

Meanwhile, the suit alleges, Nvidia officers were making bullish statements about the company. This led investors astray, and cost them a lot of money when the stock went over a cliff, the lawsuit claims.

The suit, a class action, is on behalf of people who bought or owned Nvidia stock during the relevant time periods.

Suits like this are long, ugly and full of revealing discovery. We can't wait to read it all. µ

Relevant Reading

The whoop-ass story
The rumors
The blame game
What are bad

Dell gets hit

HP pays more than they should

A year ago
Change for no real reason
More changes for no reason
The reason part 1 of 3
The reason part 2 of 3

The reason part 3 of 3
HP's page

Dell's page

 

Share this:

blog comments powered by Disqus
Advertisement
Subscribe to INQ newsletters

Sign up for INQbot – a weekly roundup of the best from the INQ

Advertisement
INQ Poll

Heartbleed bug discovered in OpenSSL

Have you reacted to Heartbleed?