Feeds

Nvidia hit with securities fraud suit

Class Action

  • alert
  • submit to reddit

Nvidia has been slapped with a class action suit alleging securities fraud.

Leading the charge is legal rottweiler Cohen, Milstein, Hausfeld & Toll, a class action specialist based in Washington DC.

The law firm alleges that Nvidia officers misled shareholders between Feb 15, 2000 and Feb 14, 2002, and it it is seeking people who bought Nvidia stock during this period to join a class action suit. The deadline is April 22, 2002.

"In order to overstate revenues in its financial statements, NVIDIA violated Generally Accepted Accounting Principles and SEC rules by engaging in an improper scheme. As a result of defendants' misleading statements and accounting improprieties during the Class Period, the price of NVIDIA common stock traded at artificially inflated prices," it says in a
statement.

The suit was filed on March 14 in the United States District Court for the Northern District of California. Nvidia and "certain of its officers and directors' are accused of violations of the Securities Exchange Act of 1934.

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.