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NVIDIA Corporation (NASDAQ: NVDA) Investor Securities Class Action Lawsuit 09/09/2008

  • If you purchased shares of NVIDIA Corporation (NASDAQ: NVDA), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
NVIDIA
Security
NASDAQ: NVDA

Case Name
NVIDIA Shareholder Class Action Lawsuit 09/09/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

Class Period Begin
Class Period End
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Summary

October 12, 2011 - The court granted the defendants' motion to dismiss without leave to amend.
December 2, 2010 - The lead plaintiff filed a second amended complaint.

October 19, 2010 - The court granted the defendants' motion to dismiss with leave to amend.

March 8, 2010 - Defendants filed motions to dismiss.

January 22, 2010 - The lead plaintiff filed an amended complaint.

December 23, 2008 - The lead plaintiff and and lead counsel were appointed.

November 10, 2008 - Lead plaintiff motions were filed.

October 30, 2008 - All three cases were consolidated and filed as 08-CV-04260.

September 23, 2008 - Another investor filed a complaint.

September 16, 2008 - Another investor filed a complaint.

September 9, 2008 - An investor in shares of NVIDIA Corporation (NASDAQ: NVDA) filed a lawsuit in the U.S. District Court for the Northern District of California against NVIDIA Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 8, 2007 and July 2, 2008.

According to the complaint the plaintiff charges NVIDIA Corporation and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that between November 8, 2007 and July 2, 2008 defendant issued materially false and misleading statements regarding NVIDIA Corporation's business and financial results.

Specifically the complaint alleges that between November 8, 2007 and July 2, 2008, the defendants issued a series of misrepresentations and omissions that actively concealed and failed to disclose the unusually high failure rates of NVIDIA Corporation's mobile video adapters and the impact of these defects on NVIDIA Corporation's financial condition and results and future business prospects. When the defendants belatedly revealed this information on July 2, 2008, NVIDIA Corporation's (NASDAQ: NVDA) stock plummeted, and NVIDIA Corporation's market capitalization was promptly reduced by over $3 billion.