"[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.
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.