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NVIDIA Slapped With Class Action Act directed at Cryptocurrency Implosion



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A law firm in Los Angeles, California, encourages investors who have lost over $ 100,000 by raising funds for NVIDIA's share to contact the agency to take part in any lawsuit. It is the complaint that NVIDIA is misleading its shareholders by exceeding its ability to aggravate the cold of the crypto market, as it relates to mining with GPUs.

"[NVIDIA] made false and misleading statements to the market. The ability to monitor the crypto course market and make rapid changes to its business as needed. The company claimed to be" masters of managing our channel and we understand the channel very well. " NVIDIA also claimed to market that any drop in demand for their GPUs among cryptocurrency miners would not adversely affect the company's business due to strong demand for GPUs from the gaming market, "the complaint says.

"Based on these facts, the company's public statements were false and substantially misleading throughout the class period When the market learned the truth about NVIDIA, investors were injured," the complaint continues.

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As many of you who read this, may already be aware that cryptocurrency mining strengthened the demand for GPUs too much last year. Both AMD and NVIDIA have benefited from this. Although the players finally had a time period due to a lack of graphics cards and inflated prices, the lawsuit does not address this issue.
What the possible class search does is the problem is the steep decline in NVIDIA's share price after the cryptocurrency bubble burst. For the most part, it ceased to be profitable for my cryptographic curves as Ethereum using GPUs towards the end of 2018.

Whether or not NVIDIA's stock price is complete has been a fall over the past few months. The company is currently trading at $ 133.50, which is down from over $ 200 in mid-November, and much lower than the high of nearly $ 300 in early October.

As a result, Schall Law Firm invites shareholders who bought NVIDIA shares between August 10, 2017 and November 15, 2018 to contact the company before February 19, 2019 to participate in the lawsuit and "recover your losses."

From our vantage point, Schall Law Firm has an uphill battle to climb. Cryptocurrency craze (and subsequent crashes, of varieties) was a unique situation. If nothing else, it feels like this kind of lawsuit is jumping the gun, as NVIDIA states in November that it had a surplus on its hands.

"Our long-term performance reflects redundant channel holdings after the crypto-currency boom, which will be corrected. Our market position and growth potential are stronger than ever. During the quarter, we launched new platforms to expand our architecture into new emerging markets – RAPIDS for machine learning, RTX Server for movie recovery and T4 Cloud GPU for hyperscale and cloud, "said NVIDIA.

We will get a better picture of NVIDIA's GPU sales when it submits its next earnings report, which is likely to be in February. It will also take some time to see what impact NVIDIA's new Turing GPU and the GeForce RTX series have on the bottom line. While there has been some backing from players over the relatively high prices of NVIDIA's latest graphics card, the company is ready to introduce a more affordable model, the GeForce RTX 2060, which is rumored to start at $ 349.

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