The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased NVIDIA Corporation (NASDAQGS: NVDA) securities between August 10, 2017 and November 15, 2018.
According to the NVIDIA lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) NVIDIA’s growth in its gaming GPU revenue was driven, as repeatedly denied by Defendants, in significant part by the spiked demand for those GPUs among cryptocurrency miners; (ii) NVIDIA did not have, as Defendants asserted, visibility into its inventory channel; (iii) NVIDIA was unable to adapt to the volatility of cryptocurrency markets; (iv) as cryptocurrency prices dropped, NVIDIA hid halting growth from cryptocurrency miners by continuing to push mid-range GPUs into the channel; (v) this would foreseeably cause an oversupply of gaming card inventory levels on the market and ultimately lead to over three months of excess inventory in NVIDIA’s channel; and (vi) as a result, NVIDIA’s public statements were materially false and misleading at all relevant times
If you suffered a loss in NVIDIA you have until February 19, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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