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NVIDIA Corporation may have misrepresented to investors its financial outlook as NVIDIA was having operational problems with a key product line.
Investigation Source (Case #08-cv-04260)
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Investments
- False And Misleading Statements
Product or Service
- Investments
Injury Type
- Monetary Loss
Investigation Details
This is a securities class action lawsuit against NVIDIA Corporation and its to top officers for violations the Securities Exchange Act of 1934.
The class action complaint alleges that, during the Class Period, NVIDIA issued a series of misrepresentations and omissions that actively concealed and failed to disclose the unusually high failure rates of NVIDIA's mobile video adapters and the impact of these defects on NVIDIA's financial condition and results and future business prospects.
When NVIDIA belatedly revealed this information on July 2, 2008, NVIDIA's stock plummeted, and NVIDIA's market capitalization was promptly reduced by over $3 billion.
The class action complaint alleges that, during the Class Period, NVIDIA issued a series of misrepresentations and omissions that actively concealed and failed to disclose the unusually high failure rates of NVIDIA's mobile video adapters and the impact of these defects on NVIDIA's financial condition and results and future business prospects.
When NVIDIA belatedly revealed this information on July 2, 2008, NVIDIA's stock plummeted, and NVIDIA's market capitalization was promptly reduced by over $3 billion.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| NVIDIA Corporation (NVDA) | NVIDIA Corporation provides visual computing technologies designed to generate interactive graphics on consumer and professional computing devices. |