NVDA » Topics » SECTION 8 - Other Events.

This excerpt taken from the NVDA 8-K filed Sep 24, 2008.

Item 8.01 Other Events.

On September 16, 2008, NVIDIA Corporation executed a settlement agreement, or the Agreement, in connection with the consolidated action In re Graphics Processing Units Antitrust Litigation, MDL No. 1826, pending in the District Court for the Northern District of California, or the Action. The Agreement relates to the claims of the certified class of direct purchaser plaintiffs previously approved by the District Court, which consists of purchasers who bought graphics cards directly from the websites of ATI Technologies ULC or NVIDIA in the United States during the period December 4, 2002 to November 7, 2007. The Agreement calls for NVIDIA to pay $850,000 into a $1.7 million fund to be made available for payments to the certified class. We are not obligated under the Agreement to pay plaintiffs’ attorneys’ fees, costs, or make any other payments in connection with the settlement other than our payment of $850,000. The Agreement is subject to court approval and, if approved, would dispose of all claims and appeals raised by the certified class in the Action against NVIDIA.

We have also reached a settlement agreement with the remaining individual indirect purchaser plaintiffs in the Action. On July 18, 2008, the District Court denied a motion seeking to certify a class of all indirect purchasers in the United States who purchased a product containing a graphics processing unit initially sold by NVIDIA or the other defendants in the Action. On September 9, 2008, NVIDIA reached a settlement agreement with the remaining individual indirect purchaser plaintiffs that provides for NVIDIA to pay $112,500 in exchange for a dismissal of all claims and appeals related to the Action raised by the individual indirect purchaser plaintiffs. This settlement is not subject to the approval of the District Court. Pursuant to the settlement, the individual indirect purchaser plaintiffs in the Action have dismissed their claims and withdrawn their appeal of the class certification ruling.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      NVIDIA Corporation
Date: September 24, 2008     By:  

/s/    DAVID M. SHANNON

        David M. Shannon
        Senior Vice President, General Counsel and Secretary
This excerpt taken from the NVDA 8-K filed Jul 2, 2008.

Item 8.01 Other Events.

On July 2, 2008, NVIDIA Corporation stated that it would take a $150 million to $200 million charge against cost of revenue to cover anticipated customer warranty, repair, return, replacement and other consequential costs and expenses arising from a weak die/packaging material set in certain versions of our previous generation MCP and GPU products used in notebook systems. All newly manufactured products and all products currently shipping in volume have a different and more robust material set.

The previous generation MCP and GPU products that are impacted were included in a number of notebook products that were shipped and sold in significant quantities. Certain notebook configurations of these MCP and GPU products are failing in the field at higher than normal rates. While we have not been able to determine a root cause for these failures, testing suggests a weak material set of die/package combination, system thermal management designs, and customer use patterns are contributing factors. We have developed and have made available for download a software driver to cause the system fan to begin operation at the powering up of the system and reduce the thermal stress on these chips. We have also recommended to our customers that they consider changing the thermal management of the MCP and GPU products in their notebook system designs. We intend to fully support our customers in their repair and replacement of these impacted MCP and GPU products that fail.

We have begun discussions with our supply chain regarding reimbursement to us for some or all of the costs we have incurred and may incur in the future relating to the weak material set. We will also seek to access our insurance coverage. We continue to not see any abnormal failure rates in any systems using NVIDIA products other than certain notebook configurations. However, we are continuing to test and otherwise investigate other products. There can be no assurance that we will not discover defects in other MCP or GPU products.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  NVIDIA Corporation
Date: July 2, 2008   By:  

/s/ Marvin Burkett

    Marvin Burkett
    Chief Financial Officer
This excerpt taken from the NVDA 8-K filed Oct 31, 2007.

SECTION 8 – Other Events.

 

Item 8.01 Other Events.

On October 26, 2007, the Securities and Exchange Commission formally notified NVIDIA Corporation (the “Company”) that its investigation concerning the Company’s historical stock option granting practices has been terminated and that no enforcement action was recommended.

 

2.


This excerpt taken from the NVDA 8-K filed Jun 19, 2007.

Item 8.01. Other Events.

As we have previously disclosed in our Form 10-Q for the fiscal quarter ended April 29, 2007, we have an ongoing authorization from our Board of Directors, subject to certain specifications, to repurchase shares of our common stock up to an aggregate maximum amount of $1.7 billion. During our third fiscal quarter fiscal 2008, as part of this program, we intend to purchase a minimum of 1,000,000 shares of our common stock on the open market, in negotiated transactions or through structured stock repurchase agreements. Our stock repurchase plan is designed, among other things, to offset dilution from stock issuances pursuant to our employee benefit plans.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      NVIDIA Corporation
Date: June 19, 2007     By:  

/s/ Marvin D. Burkett

        Marvin D. Burkett
        Chief Financial Officer
This excerpt taken from the NVDA 8-K filed Jun 18, 2007.

Item 8.01. Other Events.

As we have previously disclosed in our Form 10-Q for the fiscal quarter ended April 29, 2007, we have an ongoing authorization from our Board of Directors, subject to certain specifications, to repurchase shares of our common stock up to an aggregate maximum amount of $1.7 billion. During our third fiscal quarter fiscal 2008, as part of this program, we intend to purchase a minimum of 1,000,000 shares of our common stock on the open market, in negotiated transactions or through structured stock repurchase agreements. Our stock repurchases are designed to offset dilution from stock issuances pursuant to our employee benefit plans.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      NVIDIA Corporation
Date: June 18, 2007     By:  

/s/ Marvin D. Burkett

        Marvin D. Burkett
        Chief Financial Officer
This excerpt taken from the NVDA 8-K filed Jun 18, 2007.

SECTION 8 – Other Events

 

Item 8.01. Other Events.

As we have previously disclosed in our Form 10-Q for the fiscal quarter ended April 29, 2007, we have an ongoing authorization from our Board of Directors, subject to certain specifications, to repurchase shares of our common stock up to an aggregate maximum amount of $1.7 billion. On May 30, 2007, as part of this program, we entered into a structured share repurchase agreement with a financial institution for an aggregate of $125.0 million shares of our common stock, pursuant to which we received 3,333,333 million shares on June 4, 2007. We may receive additional shares upon termination of this arrangement.


This excerpt taken from the NVDA 8-K filed Sep 12, 2006.

Item 8.01 Other Events.

Please see Item 3.01 above. NVIDIA also announced that that the Securities and Exchange Commission staff has requested that the Company provide them with certain information relating to the Company’s historical stock option practices. A copy of the press release is attached hereto as Exhibit 99.1.

SECTION 9 - Financial Statements and Exhibits

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