SAN FRANCISCO, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in NVIDIA Corporation (NASDAQ: NVDA) of the February 19, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired NVIDIA securities between August 10, 2017 and November 15, 2018 (the “class period”) and suffered $1 million or more in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/NVDA
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, Defendants misled investors by repeatedly assuring them that NVIDIA and senior management closely followed the cryptocurrency mining channel and could adjust the Company’s graphic processing unit (“GPU”) inventory to rapid changes in that channel.
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.
In response, the price of NVIDIA shares fell about 28%, during two trading sessions to close at $144.70 on November 19, 2018.
In the wake of these events, certain analysts have downgraded NVIDIA stock and at least one large institution reportedly dumped its NVIDIA stake.
“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.
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Contact:
Reed Kathrein, 510-725-3000