Graphics card manufacturer Nvidia agreed to a preliminary settlement that will resolve claims in a group of proposed class action lawsuits that center around allegations that the company misled consumers about the performance and storage capabilities of its product.
Nvidia says it will pay each buyer of the graphics card $30 and will pay an additional $1.3 million in attorneys’ fees, according to settlement documents.
The overall settlement amount was not publicly disclosed within court papers, however Nvidia agreed to pay all consumers who purchased the GTX 970 graphics card and indicated there would not be a cap on the total amount it would pay consumers.
“The settlement is fair and reasonable and falls within the range of possible approval,” attorneys for the proposed Class said in the filing. “It is the product of extended arms-length negotiations between experienced attorneys familiar with the legal and factual issues of this case and all settlement class members are treated fairly under the terms of the settlement.”
The initial proposed class action lawsuit in a series of lawsuits against Nvidia was filed in February 2015 and alleged that the company engaged in false advertising, deceptive business practice, unlawful is practices and violated California’s business law for unfair business practices.
The initial claim accused Nvidia of having a graphics card that operated on 3.5 GB but was advertised as operating with a full 4 GB of video access memory, plus another .5 GB that was separated from the rest of the memory.
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