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nVidiots....ROTFLMAO!!!!!!!!!!!
COLCHESTER, Conn., April 2 /PRNewswire/ -- SCOTT + SCOTT, LLC (http://www.scottscott.com) (e-mail: scottlaw@scott-scott.com), a Connecticut-based law firm with offices outside of Philadelphia commenced a class action lawsuit in the United States District Court for the Northern District of California on behalf of purchasers of NVIDIA Corp. ("NVIDIA" or the "Company") (Nasdaq: NVDA, news, msgs) between Feb. 15, 2000 and Feb. 14, 2002, inclusive (the "Class Period"). The complaint is listed as Civil Action Number C-02-1425-PJH.
The complaint charges NVIDIA and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that NVIDIA violated Generally Accepted Accounting Principles and SEC rules by engaging in an illegal accounting scheme that dramatically overstated revenues and assets. The defendants misrepresented NVIDIA's true prospects in order to conceal NVIDIA's wrongful acts until the defendants were able to sell at least $66 million worth of their own NVIDIA stock. On Feb. 14, 2002, the Company partially admitted that its past accounting for its prior results may be inaccurate. This news caused the company's shares to plummet the following day. A copy of the complaint filed in this action is available from the Court or can be obtained by contacting Scott + Scott, LLC.
If you bought the securities of NVIDIA between Feb. 15, 2000 and Feb. 14, 2002 and you wish to serve as lead plaintiff, you are required to move to do so with the Court no later than April 20, 2002. If you would like to discuss this action or have any questions concerning this notice or your rights or interests, please contact Scott + Scott lawyers, Neil Rothstein (nrothstein@scott-scott.com), David R. Scott (drscott@scott-scott.com) or James E. Miller (jmiller@scott-scott.com) by e-mail or by phone at 800/404-7770. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
And Even more Bad News.....LOL
NEW YORK (CBS.MW) -- The tide that has boosted Nvidia in recent years may be turning against the chipmaker, according to Barron's.
Nvidia (NVDA: news, chart, profile), which saw revenue growth of 10,000 percent over the past four years to $1.37 billion in the fiscal year ended in January, outpaced all other S&P 500 stocks in 2001, gaining 308 percent. Since the beginning of the year, the stock has fallen by more than a third amid a Securities and Exchange Commission accounting probe.
The business weekly said regulatory woes may be the least of the company's problems, however, warning that the firm may be on the wrong side of a shift in the graphics-chip sector.
The article noted that top competitors Intel (INTC: news, chart, profile) and ATI Technologies (ATYT: news, chart, profile) have taken steps to regain lost market share, while Nvidia has been unable to gain an important Intel product license. That will shut Nvidia out of a major portion of the market for graphics chips used in PCs powered by Intel's Pentium 4 microprocessors.
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When I was in Santa Clara last week we drove by nVidia after dinner ~9:45 pm and there were people in ties etc..(well dressed) working late. I saw one guy who looked rather upset waving his arms around and appeared to be yelling at the rest of the group in the office area. .....LOL
Paul
The complaint charges NVIDIA and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that NVIDIA violated Generally Accepted Accounting Principles and SEC rules by engaging in an illegal accounting scheme that dramatically overstated revenues and assets. The defendants misrepresented NVIDIA's true prospects in order to conceal NVIDIA's wrongful acts until the defendants were able to sell at least $66 million worth of their own NVIDIA stock. On Feb. 14, 2002, the Company partially admitted that its past accounting for its prior results may be inaccurate. This news caused the company's shares to plummet the following day. A copy of the complaint filed in this action is available from the Court or can be obtained by contacting Scott + Scott, LLC.
If you bought the securities of NVIDIA between Feb. 15, 2000 and Feb. 14, 2002 and you wish to serve as lead plaintiff, you are required to move to do so with the Court no later than April 20, 2002. If you would like to discuss this action or have any questions concerning this notice or your rights or interests, please contact Scott + Scott lawyers, Neil Rothstein (nrothstein@scott-scott.com), David R. Scott (drscott@scott-scott.com) or James E. Miller (jmiller@scott-scott.com) by e-mail or by phone at 800/404-7770. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
And Even more Bad News.....LOL
NEW YORK (CBS.MW) -- The tide that has boosted Nvidia in recent years may be turning against the chipmaker, according to Barron's.
Nvidia (NVDA: news, chart, profile), which saw revenue growth of 10,000 percent over the past four years to $1.37 billion in the fiscal year ended in January, outpaced all other S&P 500 stocks in 2001, gaining 308 percent. Since the beginning of the year, the stock has fallen by more than a third amid a Securities and Exchange Commission accounting probe.
The business weekly said regulatory woes may be the least of the company's problems, however, warning that the firm may be on the wrong side of a shift in the graphics-chip sector.
The article noted that top competitors Intel (INTC: news, chart, profile) and ATI Technologies (ATYT: news, chart, profile) have taken steps to regain lost market share, while Nvidia has been unable to gain an important Intel product license. That will shut Nvidia out of a major portion of the market for graphics chips used in PCs powered by Intel's Pentium 4 microprocessors.
**************************************************
When I was in Santa Clara last week we drove by nVidia after dinner ~9:45 pm and there were people in ties etc..(well dressed) working late. I saw one guy who looked rather upset waving his arms around and appeared to be yelling at the rest of the group in the office area. .....LOL
Paul
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