Case Page

 

Case Status:    DISMISSED    
On or around 11/08/2011 (Court's order of dismissal)

Filing Date: September 09, 2008

According to a law firm press release, a class action complaint was filed against NVIDIA and its to top officers for violations the Securities Exchange Act of 1934. Specifically, the complaint alleges that, during the Class Period, the defendants issued 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.

On October 30, 2008, an order was entered by the court consolidating the actions with C08-4260 be the lead case.

On December 23, 2008, an Order Appointing Lead Plaintiffs, Co-Lead Counsel was entered by the court.

On February 3, 2009, a Notice Of Substitution Of Attorney And Notice Of Appearance was filed with the court.

On February 5, 2009, a Stipulation And [Proposed] Order Regarding Deadline For Filing Consolidated Complaint was submitted to the court.

On December 08, 2009, a Stipulation Pursuant To This Court’s November 20, 2009 Order Approving Selection Of Co-Lead Counsel For Lead Plaintiff Roberto Cohen, Lead Plaintiff New Jersey Carpenters Pension And Annuity Funds, And The Class was granted.

On January 22, 2010, an Amended Consolidated Class Action for Violations of Federal Securities Laws against the defendants was filed by the lead the plaintiff.

On March 08, 2010, the Court issued a proposed order granting the Defendants’ Motion to Dismiss the claims set forth in Plaintiffs’ Consolidated Amended Complaint pursuant to Rule 12(b)(6) of the Federal Rules of Civil Procedure. Subsequently, the Plaintiffs’ Consolidated Amended Complaint is dismissed with prejudice.

On October 19, 2010, the defendants’ motion to dismiss was granted with leave to amend. The Plaintiffs were ordered to file any amended complaint within 30 days of the date of this order. Otherwise, the action will be dismissed with prejudice.

On December 02, 2011, a Second Consolidated Amended Class Action Complaint was filed after receiving leave to amend.

On October 12, 2011, the case was dismissed without leave to amend due to the
plaintiffs’ failure to plead the element of scienter that is necessary to state a claim pursuant to section 10(b), Rule 10b-5, or section 20(a).

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 #: 08-CV-04260
JUDGE: Hon. James Ware
DATE FILED: 09/09/2008
CLASS PERIOD START: 11/08/2007
CLASS PERIOD END: 07/02/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Girard Gibbs LLP (San Francisco)
    601 California Street, Suite 1400, Girard Gibbs LLP (San Francisco), CA 94108
    415.981.4800 415.981.4846 · mail@girardgibbs.com
  2. Shalov Stone Bonner & Rocco LLP (New York)
    485 Seventh Avenue, Suite 1000, Shalov Stone Bonner & Rocco LLP (New York), NY 10018
    212.239.4340 212.239.4310 · lawyer@lawssb.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 08-CV-04260
JUDGE: Hon. James Ware
DATE FILED: 01/22/2010
CLASS PERIOD START: 11/08/2007
CLASS PERIOD END: 07/02/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kahn Swick & Foti, LLC (New Orleans)
    650 Poydras St. 2150, Kahn Swick & Foti, LLC (New Orleans), LA 70130
    504.455.1400 504.455.1400 ·
  2. Kahn Swick & Foti, LLC Former New York)
    500 Fifth Avenue, Ste. 1810, Kahn Swick & Foti, LLC Former New York), NY 10110
    212.696.3730 504.455-1498 ·
  3. Milberg LLP (Los Angeles)
    300 South Grand Avenue, Suite 3900, Milberg LLP (Los Angeles), CA 90071
    213.617.1200 213.617.1200 · ContactUs@milberg.com
  4. Milberg LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg LLP (New York), NY 10119
    1.877.692.1965 · ContactUs@milberg.com
No Document Title Filing Date
No Document Title Filing Date