Graphics chipmaker Nvidia Corp. has been named as the defendant in a class action lawsuit filed in United States District Court for the Northern District of California. The suit was filed by the San Francisco, Calif. offices of law firm Kaplan Fox & Kilsheimer LLP.
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The suit has been filed on behalf of all stockholders of Nvidia Corp. who purchased stock between February 15, 2000 and February 14, 2002. The suit charges that Nvidia and specific officers and directors with violations of the Security Exchange Act of 1934.
Kaplan Fox’s suit alleges that during the class period Nvidia issued a series of false and misleading statements regarding its financial condition. Kaplan Fox claims that Nvidia overstated revenues from its financial statements in violation of Generally Accepted Accounting Principles (GAAP) and SEC rules. This resulted, said the law firm, in trading of Nvidia common stock at artificially inflated prices.
Kaplan Fox seeks to recover damages on behalf of the Class. People affected by the case are encouraged to e-mail Kaplan Fox for details.