Nvidia, Mitac, others face Visiontek law suit

SOURCES SAID a lawsuit was filed by a trustee acting for the creditors of former graphics company Visiontek against Nvidia, Mitac, BFG Technologies, Advanced Equities and several individuals.

The action, in Cook County, Illinois, seeks an injunction, damages of $50 million and punitive damages that a jury will have to decide.

The court case outlines various allegations that a judge and jury will have to decide.

One is that some former Visiontek employees started their own company within Visiontek while still employed by the company.

It's also alleged that some of the named individuals worked for Visiontek's former investment firm, Advanced Equities, and that these individuals used inside knowledge and Visiontek resources to start a new company called BFG Technologies, and then to wind down the former company.

It is also alleged that individuals acted illegally, violated confidentiality agreements, employment agreements and their company responsibilities.

It is further alleged that investment funds that were headed for Visiontek were diverted to BFG and that both Nvidia and Mitac knew about this and supported the moves. µ