When the chips are down…
A lawsuit filed by New York-based Shalov Stone Bonner & Rocco on Tuesday, September 9, 2008 alleges that Nvidia lost more than $3 billion (USD) in market value because it concealed defects in graphics chips. The suit 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.” Nvidia has its Corporate Office in Santa Clara, CA.
The class action suit covers the period between November 8, 2007 and July 2, 2008. On July 2, Nvidia announced that it would take a one-time charge of $150 million to $200 million to “cover anticipated warranty, repair, return, replacement and other costs and expenses, arising from a weak die/packaging material set in certain versions of its previous generation GPU <graphics processing unit> and MCP <multichip package> products used in notebook systems.”
The most often cited graphics chip models potentially affected are Nvidia’s GeForce 8 series, according to the CNET article above.
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