NVIDIA Sued Over Faulty GPUs
Techtree News Staff, Sep 12, 2008 0759 hrs IST
A class-action suit has been filed against NVIDIA alleging violation of securities laws by the GPU company
Nvidia has been facing a dark period since reports of their G84 and G86 chips for notebooks overheating, and eventually failing made the rounds.
Based on those reports and the financial implications that it had on NVIDIA, a suit has been filed by Lisa Miller in the Northern District of California against Jen-Hsun Huang, CEO and Marvin Burkett, CFO NVIDIA. The suit alleges that the 'Defendants' did not disclose information about GPUs overheating to their shareholders. The suit [PDF] states that --
The truth is that, at least as early as November 2007, NVIDIA and other Defendants have known about these unprecendented failure rates, as well as their "root cause". Indeed, Michael Hara, the Company's Vice President for Investor Relations and Communications, conceded during a September 4, 2008, "Citigroup Technology Conference" that NVIDIA began troubleshooting these problems with major computer manufacturers beginning in August of 2007. "We've... been working on this problem with the customers for well over a year," Hara admitted, "going all the way back to August of last year."
Earlier, NVIDIA's GPU problems with notebooks from Dell, Lenovo and Apple were reported which NVIDIA denied. With allegations of faulty GPUs came direct market pressure in the form of competitive hardware from AMD; and in this atmosphere of uncertainity NVIDIA's stock shares tumbled over 30 percent.
Source: Arstechnica
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