Gibbs Law Group LLP Announces Class Action Lawsuit Filed Against NVIDIA Corp. (Nasdaq:NVDA)
September 10, 2008
SAN FRANCISCO–(BUSINESS WIRE)–The law firm of Gibbs Law Group LLP announces that it has filed a class action lawsuit on behalf of all persons and entities who purchased or otherwise acquired the common stock of NVIDIA Corp. (“NVIDIA” or the “Company”), between November 8, 2007, and July 2, 2008, inclusive (the “Class Period”).
The lawsuit, captioned Miller v. NVIDIA Corp. et al., C-08-4260-JW, is pending in the United States District Court for the Northern District of California. The defendants are NVIDIA and its CEO and CFO during the class period. The complaint alleges that defendants violated the Securities Exchange Act of 1934 by issuing 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 the company’s financial condition and results and future business prospects. When the defendants belatedly revealed this information on July 2, 2008, NVIDIA’s stock plummeted, and the company’s market capitalization was promptly reduced by over $3 billion.
If you purchased or otherwise acquired NVIDIA common stock during the class period, you may, no later than November 10, 2008, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. You may retain Gibbs Law Group LLP, or other attorneys, to serve as your counsel in this action.
If you wish to discuss your rights as NVIDIA investor, please contact Jonathan K. Levine (jkl@GirardGibbs.com) toll-free at (866) 981-4800. A copy of the complaint is available from the Court.
Gibbs Law Group LLP is one of the nation’s leading firms representing individual and institutional investors in securities fraud class actions and litigation to correct abusive corporate governance practices, breaches of fiduciary duty and proxy violations. For more information, please access the firm’s web site, www.GirardGibbs.com.
Gibbs Law Group LLP
Jonathan K. Levine, 415-981-4800