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Hagens Berman Notifies NVIDIA Corporation (NASDAQ: NVDA) Investors of February 19, 2019 Securities Class Action Lead Plaintiff Deadline
Globe Newswire 16-Jan-2019 9:30 AM
SAN FRANCISCO, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP notifies investors in NVIDIA Corporation (NASDAQ:NVDA) of the securities class action pending in the United States District Court for the Northern District of California and the February 19, 2019 Lead Plaintiff deadline. If you purchased or otherwise acquired NVIDIA securities between August 10, 2017 and November 15, 2018 (the "class period") and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
Throughout the class period, Defendants repeatedly assured investors that they closely followed the market for markets graphics processing units ("GPUs"), particularly within the cryptocurrency "mining" channel, effectively managed the Company's inventory, and downplayed the mining channel's significance to NVIDIA's business.
Then, on November 15, 2018, Defendants slashed revenue guidance for NVIDIA's fourth quarter and blamed surging GPU inventory built up before the rapid fade of cryptocurrency mining.
This news drove the price of NVIDIA shares down $57.69, or about 28%, during two trading sessions to close at $144.70 on November 19, 2018.
"We're focused on investors' losses, the extent to which management's statements about GPU inventory and the Company's apparent dependence on the crypto mining channel may have been misleading, and whether certain insider selling before the November 15 disclosures was improper," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding NVIDIA should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email NVDA@hbsslaw.com.
About Hagens Berman Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
