Monday, March 8th 2021
NVIDIA Wins $1 Billion Lawsuit by a Class of Investors
Last year, we found out that a group of investors has accused NVIDIA that the company has misled its investors by reporting crypto revenue as gaming revenue numbers and making its gaming revenue seem much bigger than it is. The original lawsuit was filed in 2017 and it demanded that NVIDIA should pay one billion US Dollars to investors shall they be proven right. In 2017, cryptocurrency mining was at the same craze it is today, with people buying every possible card that exists and consumers having a hard time upgrading their PCs. Investors in NVIDIA corporation have believed that in 2017, the company has presented its cryptocurrency earning figures as a part of the gaming figures, thus giving misleading information about the company's success in the gaming market.
Today, we have information that NVIDIA has won this lawsuit. On Tuesday, U.S. District Court Judge Haywood Gilliam has dismissed the case and ruled that investors were unable to provide any significant evidence that the company has used such practices and misled investors. By taking this case off the company, NVIDIA will not be paying one billion USD to the accusing investors and the company continues operations as normal.
Source:
Tom's Hardware
Today, we have information that NVIDIA has won this lawsuit. On Tuesday, U.S. District Court Judge Haywood Gilliam has dismissed the case and ruled that investors were unable to provide any significant evidence that the company has used such practices and misled investors. By taking this case off the company, NVIDIA will not be paying one billion USD to the accusing investors and the company continues operations as normal.
40 Comments on NVIDIA Wins $1 Billion Lawsuit by a Class of Investors
Nvidia didn't even mention the word "mining" in their last financial report. It says gaming while at least half of the world who has brain (obviously the half you don't belong to) knows it is mining that lead to more sales (by miners) and also to more profit from gamers (because when miners started buying cards prices went up). It is stupidly that sample.
This creates uncertainty. the crash of crypto would hurt the sales of next gen also, as miners start flooding the second hand market. So Nvidia will have to make next get too powerful too quick at too low of a price. GTX 1070 was a good buy. closest to 1070 came out 3 years later as 1660Ti at $100 lower. $33 per year depreciation a great card. This way 2070 received terrible pricing for customers, but somehow good for holders.
Justice is justice, it's not necessarily fair.
But if want to be reassured, even in math the most simple known thing have to be proven. And some are so stupidly easy to figure out that the demonstration of proof is even harder.
Like the one where you only need 4 colors to color a map. It took some time to prove it properly.
In the end I don't care who wins, they are both greedy.
AMD has never made a point of specifically-reporting every time they get rushed (HD 5850, HD 7950, R9 290, Vega 56 - all these parts dissappeared from store shelves at least 6 months after launch)! The only lasting result of this is Nvidia is now locking/splitting their revenue reporting (good for gamers, and also prevents pointless fishing expeditions from entitled investors like this!)
NVIDIA is also nerfing VRAM