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NVIDIA sued by angry shareholder

Posted on Wednesday, September 10 2008 @ 21:37:04 CEST by

Lisa Miller, an angry shareholder, filed a class-action lawsuit against NVIDIA, claiming the GPU giant failed to properly inform investors about the financial risks related to the failure of some of their notebook chips.
At least as early as November 2007, Nvidia and the other Defendants have known about these unprecedented failure rates, as well as their "root causes." Indeed, Michael Hara, the Company's Vice President for Investor Relations and Communications, conceded during a September 4, 2008, "Citigroup Technology Conference" that Nvidia began troubleshooting these problems with major computer manufacturers beginning in August of 2007. . . . Despite this, for eight months or more Nvidia and the other Defendants concealed the defects and their ramifications for the Company's financial health and future in a series of false and misleading statements made to the investing public.
You can read the full complaint over here (PDF).



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