According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that:
- Monolithic Power Systems’ voltage regulator modules and power management integrated circuits were suffering from significant performance and air quality issues;
- these defects had, in turn, negatively impacted the performance of certain products offered by Nvidia in which such products were used;
- Monolithic Power Systems had failed to adequately address and resolve known issues affecting the performance of the power management solutions that it supplied to Nvidia;
- Monolithic Power Systems’ relationship with Nvidia had been irreparably damaged due to the significant performance and quality control problems affecting the products it supplied to Nvidia and Monolithic Power Systems’ failure to adequately address such issues; and
- as a result of the above, Monolithic Power Systems was acutely exposed to material undisclosed risks of significant business, financial, and reputational harm.
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