Trial Court Finds for NVIDIA in 3dfx Bankruptcy Trial

SANTA CLARA, Calif., May 2 /PRNewswire-FirstCall/ -- NVIDIA Corporation (NASDAQ: NVDA) today announced that the United States Bankruptcy Court for the Northern District of California issued its Memorandum Decision After Trial (the "Decision") in the 3dfx bankruptcy action. In the Decision, the Court found in favor of NVIDIA on all issues and rejected the Trustee's attempts to obtain damages from NVIDIA in excess of $100 million. The Trustee's lawsuit arose from NVIDIA's 2001 acquisition of certain assets of its former competitor, 3dfx Interactive, Inc. Specifically, the Trustee claimed that NVIDIA did not pay fair value for the assets it acquired in the transaction, thereby allegedly harming 3dfx's creditors.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020613/NVDALOGO)

"A trial was necessary to fully demonstrate that we conducted ourselves appropriately in the acquisition and we are very pleased with the Decision from the Court. The Decision is comprehensive, thorough, well-reasoned, and a complete rejection of the Trustee's legal and factual arguments," said David Shannon, NVIDIA's senior vice president and general counsel.

The Court expressly found that "the Trustee's valuation theory -- every way it is articulated -- is simply not credible," and concluded that "the creditors of 3dfx were not injured by the Transaction."

"We will continue to fight this matter through any and all appeals," said Mr. Shannon.

About NVIDIA

NVIDIA (NASDAQ: NVDA) is the world leader in visual computing technologies and the inventor of the GPU, a high-performance processor which generates breathtaking, interactive graphics on workstations, personal computers, game consoles, and mobile devices. NVIDIA serves the entertainment and consumer market with its GeForce(R) products, the professional design and visualization market with its Quadro(R) products, and the high-performance computing market with its Tesla(TM) products. NVIDIA is headquartered in Santa Clara, Calif. and has offices throughout Asia, Europe, and the Americas. For more information, visit http://www.nvidia.com.

Copyright (C) 2008 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, Quadro, and Tesla are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated.

Web site: http://www.nvidia.com/




Review Article Be the first to review this article
Harris

Featured Video
Jobs
Senior Mechanical Engineer for BAE Systems Intelligence & Security at Arlington, VA
Geospatial Systems Administrator for BAE Systems Intelligence & Security at arnold, MO
Geospatial Analyst - Senior for BAE Systems Intelligence & Security at Springfield, VA
Avionics System Engineer for BAE Systems Intelligence & Security at Arlington, VA
Senior Structural Engineer for Wiss,Janney, Estner Assoicates, Inc at houston, TX
Sr Mechanical Design Engineer for Medtronic at mounds view, MN
Upcoming Events
ArcGIS: Introduction at Environmental and Natural Resource Building 14 College Farm Rd New Brunswick NJ - Feb 1 - 22, 2018
International LiDAR Mapping Forum at Hyatt Regency 650 15th Street, Denver CO - Feb 5 - 7, 2018
Automated ISR & Battle Management Summit at Mary M. Gates Learning Center Alexandria VA - Feb 13 - 14, 2018
2018 Los Angeles Geospatial Summit at USC Radisson Hotel 3540 S Figueroa St. Los Angeles CA - Feb 23, 2018
Teledyne Optech
Teledyne:
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise