NVIDIA Announces Dismissal of Class Action Securities Litigation
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FOR IMMEDIATE RELEASE:
SANTA CLARA, CA. – AUGUST 22, 2003 -- NVIDIA Corporation (Nasdaq: NVDA), today announced the United States District Court for the Northern District of California has approved the dismissal of the consolidated securities class action lawsuit against Nvidia. As previously announced, this lawsuit arose out of NVIDIA’s announcement on February 14, 2002 that it was conducting an internal investigation of certain accounting matters and its subsequent net positive restatement of financial statements for the periodsFebruary 15, 2000 throughFebruary 14, 2002.
The court’s action yesterday follows its ruling onJune 12, 2003 dismissing with prejudice all of the claims arising from NVIDIA’s restatement of its financial results. Plaintiff’s requested the dismissal of their remaining claims and the court ordered the dismissal with prejudice as to the lead plaintiffs
Certain statements in this press release, including any statements relating to the Company's performance expectations for NVIDIA's family of products and expectations of continued revenue growth, are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, manufacturing and other delays relating to new products, difficulties in the fabrication process and dependence of the Company on third-party manufacturers, general industry trends including cyclical trends in the PC and semiconductor industries, the impact of competitive products and pricing alternatives, market acceptance of the Company's new products, and the Company's dependence on third-party developers and publishers. Investors are advised to read the Company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, particularly those sections entitled "Certain Business Risks," for a fuller discussion of these and other risks and uncertainties.
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