NEW YORK, Sept. 11, 2008 (GLOBE NEWSWIRE) -- Shalov Stone Bonner & Rocco LLP has filed a securities fraud class action on behalf of all investors who purchased or otherwise acquired the common stock of NVIDIA Corp. (Nasdaq:NVDA) ("NVIDIA" or the "Company"), between November 8, 2007, and July 2, 2008, inclusive. The lawsuit is pending in the United States District Court for the Northern District of California and names as defendants NVIDIA and the Company's CEO and CFO.
The complaint filed by Shalov Stone Bonner & Rocco LLP is the only securities class action that has been commenced against the Company to preserve and protect the rights of NVIDIA investors. As Shalov Stone Bonner & Rocco LLP previously predicted, however, other lawyers who have not filed a complaint of their own have issued a press release, apparently for the sole purpose of soliciting clients.
NVIDIA investors who would like to speak with the attorneys who actually investigated and filed the NVIDIA securities class action should contact Shalov Stone Bonner & Rocco LLP, which has extensive experience in the prosecution of class actions on behalf of investors. Investors are also encouraged to visit www.nvdaclassaction.com for important information about their rights.
According to the complaint, the defendants made a series of misrepresentations and omissions that actively concealed and failed to disclose the unusually high failure rates of NVIDIA's mobile video adapters and the impact of these defects on the Company's financial condition and results and future business prospects. When the defendants belatedly revealed this information on July 2, 2008, NVIDIA's stock plummeted, and the Company's market capitalization was promptly reduced by over $3 billion.
To learn more, please contact Ralph M. Stone or Thomas G. Ciarlone, Jr., at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; e-mail: rstone@lawssb.com, tciarlone@lawssb.com).
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