Nvidia yesterday filed an 8-K report with the Securities and Exchange Commission in the US that states it has settled a class action lawsuit, which alleged that "Nvidia and ATI had conspired to fix, raise, maintain and stabilize prices of graphics processing chips and cards."
The plaintiffs in the case also contend that ATI and Nvidia "unlawfully colluded to coordinate new product introductions." They also seeked triple damages and any costs associated to the case.
The class includes anyone who bought a graphics card directly from either ATI or Nvidia's websites in the US between 4th December 2002 and 7th November 2007. It did not include the purchase of ATI or Nvidia graphics cards from other retailers or vendors—online and offline.
According to the filing, Nvidia reached a settlement with the class on 16th September and the agreement requires the company to pay $850,000 into a $1.7 million fund that will be made available for payments to the class – we assume the remaining $850,000 in the fund will be paid by AMD.
The company said in its filing that "[it is] not obligated under the Agreement to pay plaintiffs' attorneys' fees, costs or to make any other payments in connection with the settlement other than our payment of $850,000."
Additionally, Nvidia states that it has reached an agreement with the sole remaining indirect purchaser on 9th September – this required Nvidia to pay $112,500 in exchange for the "dismissal of all claims and appeals related to the Action raised by the individual indirect purchaser plaintiffs."
There's no mention of how much AMD had to contribute to the sole remaining indirect purchaser, but we'd assume it would match what Nvidia had to pay.
Given the potential size of this case, AMD and Nvidia are probably fairly pleased that the charges have been kept under the $1 million mark for each company.
Were you a part of the class? Let us know in the forums.
The plaintiffs in the case also contend that ATI and Nvidia "unlawfully colluded to coordinate new product introductions." They also seeked triple damages and any costs associated to the case.
The class includes anyone who bought a graphics card directly from either ATI or Nvidia's websites in the US between 4th December 2002 and 7th November 2007. It did not include the purchase of ATI or Nvidia graphics cards from other retailers or vendors—online and offline.
According to the filing, Nvidia reached a settlement with the class on 16th September and the agreement requires the company to pay $850,000 into a $1.7 million fund that will be made available for payments to the class – we assume the remaining $850,000 in the fund will be paid by AMD.
The company said in its filing that "[it is] not obligated under the Agreement to pay plaintiffs' attorneys' fees, costs or to make any other payments in connection with the settlement other than our payment of $850,000."
Additionally, Nvidia states that it has reached an agreement with the sole remaining indirect purchaser on 9th September – this required Nvidia to pay $112,500 in exchange for the "dismissal of all claims and appeals related to the Action raised by the individual indirect purchaser plaintiffs."
There's no mention of how much AMD had to contribute to the sole remaining indirect purchaser, but we'd assume it would match what Nvidia had to pay.
Given the potential size of this case, AMD and Nvidia are probably fairly pleased that the charges have been kept under the $1 million mark for each company.
Were you a part of the class? Let us know in the forums.
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