A class action lawsuit has been filed in United States District Court for the Northern District of California on behalf of purchasers of NVIDIA Corporation (NASDAQ:NVDA) common stock between February 15, 2000 and February 14, 2002, inclusive (the "Class Period").
The complaint alleges that NVIDIA, and certain of its officers and directors violated the Securities Exchange Act of 1934 by violating GAAP and misrepresenting NVIDIA's true prospects, in an effort to boost the price of NVIDIA stock, until they were able to sell at least $66 million worth of their own personal holdings.
NVIDIA designs, develops, and markets three dimensional (3D) graphics processors and related software. The Company's products provide interactive 3D graphics to the mainstream personal computer market.
The complaint alleges that as a result of the defendants' conduct, plaintiff and other members of the Class suffered damages.
Plaintiff seeks to recover damages on behalf of all those who purchased NVIDIA common stock during the Class Period, excluding defendants and their affiliates.