Case Page

 

Case Status:    DISMISSED    
On or around 08/21/2003 (Date of order of final judgment)

Filing Date: February 19, 2002

According to a press release dated August 22, 2003, NVIDIA Corporation announced that the United States District Court for the Northern District of California has approved the dismissal of the consolidated securities class action lawsuit against NVIDIA. The court's action follows its ruling on June 12, 2003 dismissing with prejudice all of the claims arising from NVIDIA's restatement of its financial results. Plaintiff's requested the dismissal of their remaining claims and the court ordered the dismissal with prejudice as to the lead plaintiffs. As previously announced, this lawsuit arose out of NVIDIA's announcement on February 14, 2002 that it was conducting an internal investigation of certain accounting matters and its subsequent net positive restatement of financial statements for the periods February 15, 2000
through February 14, 2002.

The original complaint charges NVIDIA and certain of its officers and directors with violations of the Securities Exchange Act of 1934. 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 part of their effort to boost the price of NVIDIA stock, defendants misrepresented NVIDIA's true prospects in an effort to conceal NVIDIA's improper acts until they were able to sell at least $66 million worth of their own NVIDIA stock. In order to overstate revenues and assets in its 4Q 00, 1Q 01, 2Q 01 and 3Q 01, NVIDIA violated Generally Accepted Accounting Principles and SEC rules by engaging in an illegal accounting scheme. This scheme had the effect of dramatically overstating revenues and assets. Then, on Feb. 14, 2002 (after the close of the market), the company partially admitted that its past accounting for its prior results may be inaccurate in a press release entitled, ``NVIDIA Corporation Conducting Review of Certain Transactions at the Request of the SEC.'' On this news the company's shares plummeted the following day.

COMPANY INFORMATION:

Sector: Technology
Industry: Semiconductors
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NVDA
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 02-CV-00853
JUDGE: Hon. Claudia Wilken
DATE FILED: 02/19/2002
CLASS PERIOD START: 02/15/2000
CLASS PERIOD END: 02/14/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR)
    P.O. Box 25438, Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR), AR 72221-5438
    501.312.8500 501.312.8505 ·
  3. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  4. Kaplan Fox & Kilsheimer, LLP (San Francisco, CA)
    100 Pine Street, 26th Floor, Kaplan Fox & Kilsheimer, LLP (San Francisco, CA), CA 94111
    415.772.4700 415.677.1233 · info@kaplanfox.com
  5. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  6. Law Offices of Marc S. Henzel (Lawrence)
    335 Central Avenue, Law Offices of Marc S. Henzel (Lawrence), NY 11559
    516.374.0707 516.295.3473 · securitiesfraud@comcast.net
  7. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  8. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  9. Much, Shelist, Freed, Denenberg, Ament & Eiger, P.C.
    200 N LaSalle St Ste 2100, Much, Shelist, Freed, Denenberg, Ament & Eiger, P.C., IL 60601
    312.346.3100 ·
  10. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  11. Robbins Umeda & Fink, LLP (San Diego)
    1010 Second Avenue, Suite 2360, Robbins Umeda & Fink, LLP (San Diego), CA 92101
    800-350-6003 · info@ruflaw.com
  12. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  13. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 02-CV-00853
JUDGE: Hon. Claudia Wilken
DATE FILED: 07/28/2003
CLASS PERIOD START: 02/15/2000
CLASS PERIOD END: 07/30/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kaplan Fox & Kilsheimer, LLP (San Francisco, CA)
    100 Pine Street, 26th Floor, Kaplan Fox & Kilsheimer, LLP (San Francisco, CA), CA 94111
    415.772.4700 415.677.1233 · info@kaplanfox.com
  2. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
No Document Title Filing Date