Nvidia violated U.S. securities laws
Brower Piven Encourages Investors Who Have Losses in Excess of $200,000 From Investment in NVIDIA Corp. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the November 10, 2008 Lead Plaintiff Deadline
BALTIMORE, MD--(MARKET WIRE)--Sep 10, 2008 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of NVIDIA Corporation ("NVIDIA" or the "Company") (NasdaqGS:
NVDA -
News) during the period between November 8, 2007 and July 2, 2008, inclusive (the "Class Period").
No class has yet been certified in the above action.
The complaint alleges that the defendants violated the Securities Exchange Act of 1934 by issuing a series of misrepresentations and omissions that concealed and failed to disclose the unusually high failure rates of NVIDIA's mobile video adapters and the impact of these defects on the Company's financial condition and results for future business prospects.
and...
Nvidia offers $200 refund to OEMs with defective GPUs
By Justin Mann, TechSpot.com
Published: September 8, 2008, 11:51 AM EST
Nvidia is still bleeding money due to the defective GPU issue, which has been problematic for them amongst
multiple cards. Initially thought only to affect certain cards in the G84 and G85 series, it was later to be found more widespread. Matters were made even worse when many mobile GPUs were found to be outright defective and needed to be replaced.
This didn't make vendors happy, so Nvidia has been forced to deal with issuing refunds to them to cover their losses. Nvidia is being generous with the refund, issuing
$200 per laptop, enough to cover the cost of replacing the defective part and getting it to/from the
customer.