Lawsuit alleges Nvidia hid chip defects
A lawsuit filed Tuesday alleges Nvidia lost more than $3 billion in market value because it concealed defects in its graphics chips.
The complaint filed by New York-based Shalov Stone Bonner & Rocco alleges that Nvidia committed "securities fraud" due to "a series of misrepresentations and omissions that actively concealed and failed to disclose the unusually high failure rates of Nvidia's mobile video adapters."
The suit ties the alleged misrepresentations to Nvidia's loss of market capitalization since July when the company "belatedly" revealed the information about problems and "promptly" lost $… Read more