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Nvidia Getting Sued! Write the bastards suing a letter

S

spartacuskzm

Senior member
The following press release says what's happening.

Nvidia Lawsuit

I, for one, wrote an e-mail asking who in the world brings these frivolous lawsuits about - especially against a company that has made all of it's long term investors a boat load of money. I encourage you all to draft a quick e-mail letting this lawfirm know how you fell...just my $.02 worth.
 
okay. that's lame.. they're stocks at 52 and change.. now if it went from $50 to like $3 in 6 months or so, then i wouldnt see a problem... their stock price seems to be in the middle ground.. 52week low 22, 52week high ~77..
 
I don't fully understand the lawsuit enough to decide whether or not I agree with it. anyone care to explain?
 
It's the Enron Effect more than anything... Most companies that had some pretty large growth over a 2-3 year period are closely examining their books... with the help of the SEC of course, finding and declaring anything that might be considered Enron-ish... Here in Canada there's almost a temporary amnesty going on for comanies to write-down what needs to be written-down, and come clean so to speak.

It's interesting to note that there was a report that the CEO of Nvidia had sold about 200,000 stocks about 2 months ago (?), prior to a small dip based on earnings. He's apparently being watched by the SEC.. poor bastach..
 


<< I don't fully understand the lawsuit enough to decide whether or not I agree with it. anyone care to explain? >>



In a nutshell:

Plaintiffs are claiming that nVidia lied about their compay's financial status, therefore enabling their stock to trade at higher levels than its actual worth. They also claim that nVidia used "suspicious" accounting methods (cooked the books) to make the books match the statements.

The result of these actions means that nVidia was able to raise more cash through stock sales than would have otherwise been possible. Whether this "extra" money was used as R&D for new products, or bonuses and vacations for the officers is anyones guess.



<< I, for one, wrote an e-mail asking who in the world brings these frivolous lawsuits about - especially against a company that has made all of it's long term investors a boat load of money. I encourage you all to draft a quick e-mail letting this lawfirm know how you fell...just my $.02 worth. >>



Do you have intimate knowledge of nVidia accounting methods to prove that this lawsuit is frivilous? If the allegations are true, nVidia made these people boatloads of money by lying about its financial status.
 
this seems like a sound suit. you gotta make compinies pay for this or there will be 5 more enrons.
 
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