This page provides the answers to class members’ most frequently asked questions.
The information provided is in summary form and is not intended as a complete explanation of your rights. For full and complete information, you are directed to review carefully the Notice.
No, you are not being sued.
A lawsuit was filed in the United States District Court for the Northern District of California against NVIDIA. The lawsuit alleges that Nvidia and the other Defendants violated ERISA with respect to the Plan. The individuals who are pursuing the lawsuit (“Plaintiffs”) claim that Defendants should not have selected and maintained certain funds as investment options in the Plan, and that the Plan paid higher recordkeeping and administrative fees than necessary to the Plan’s recordkeeper. Plaintiffs also alleged that NVIDIA and the NVIDIA Board of Directors failed to monitor the Plan’s fiduciaries.
NVIDIA denies the allegations in the lawsuit and contends that its conduct was entirely proper. NVIDIA has asserted, and would assert should the litigation continue, a number of defenses to Plaintiffs’ claims.
Settlement Class Members are persons, except Defendants and their immediate family members, who were participants in or beneficiaries of the Plan from August 28, 2014 through September 9, 2025. However, to avoid disproportionate expenses in particular cases, the Parties have agreed that no distribution will be made to any Settlement Class Member who (1) is no longer a participant in the Plan and (2) would otherwise be entitled to an amount of less than $5.00 from the Net Settlement Amount. Settlement Class Members who are current participants in the Plan are not subject to this restriction.
The Parties have agreed to the Settlement after extensive negotiations. By agreeing to the Settlement, the Parties avoid the costs and risks of further litigation, and Plaintiffs and the other members of the Settlement Class will receive compensation and other benefits. Class Counsel have conducted a review of the evidence in the case and the potential risks and benefits of continued litigation and believe that the Settlement is in the best interest of the class. The Court has not made any finding that NVIDIA has done anything wrong or violated any law or regulation.
Plaintiffs and NVIDIA have agreed to a settlement that involves monetary payments to participants. These and other terms of the Settlement are set forth in the Class Action Settlement Agreement dated December 3, 2024 (“Settlement Agreement”), and described briefly below.
As part of the Settlement, NVIDIA has agreed to make a one-time payment of $2,500,000 (the “Settlement Amount”). After deduction from the Settlement Amount for any amounts that the Court approves for settlement-related expenses (including Attorneys’ Fees and Expenses to Class Counsel, certain fees for retaining an Independent Fiduciary, Administration Costs, and Taxes and Tax-Related Costs), and any amounts to the Class Representatives as case contribution awards, the remaining amount (known as the “Net Settlement Amount”) will be distributed to Settlement Class Members. The Plan of Allocation can be found in the Settlement Agreement (Exhibit C).
Settlement Class Members who have a positive balance in their Plan account at the time of the distribution will receive any settlement proceeds through a deposit into their Plan account. To the extent feasible and ascertainable, those settlement proceeds will be invested in accordance with each Settlement Class Member’s instructions for investment of new contributions at the time the distribution is made, or, if no such instructions are in effect, to the applicable qualified default investment option. Settlement Class Members who do not have a positive balance in their Plan account as of the date of distribution (“Former Participants”) will receive a check from the Settlement Administrator.
Yes. In granting preliminary approval of the proposed Settlement, the Court appointed the Plaintiffs’ lawyers to serve as “Class Counsel” for the Settlement Class. The attorneys for the Settlement Class are as follows:
Mark K. Gyandoh
Capozzi Adler P.C.
312 Old Lancaster Road
Merion Station, PA 19066
Telephone: (610) 890-0200
markg@capozziadler.com
You will not be charged separately for the work of these lawyers; their compensation will come from the Settlement Amount and will be determined by the Court. If you want to be represented by a different lawyer in this case, you may hire one at your own expense.
The Settlement does not allow any Settlement Class Members to exclude themselves from the settlement or decide not to be a part of the Settlement. While some class-action settlements allow class members to “opt out” of the settlement, because of the nature of the claims Plaintiffs have asserted in this lawsuit, Settlement Class Members do not have any right to opt out. Thus, if you dislike some portion of the settlement, your only recourse is to object to the settlement.
Objecting is simply telling the Court that you do not like something about the Settlement. Objecting will not have any bearing on your right to receive the benefits of the Settlement if it is approved by the Court.
Prior to the Final Approval Hearing, Settlement Class Members will have the opportunity to object to approval of the Settlement. Settlement Class Members can object to the Settlement and give reasons why they believe that the Court should not approve it. To object, you must send your objection to the Court, at the U.S District Court for the Northern District of California, which is located at1301 Clay Street, Oakland, CA 94612.
Objections must be filed with the Court Clerk on or before November 18, 2025. Objections filed after that date will not be considered. Any Settlement Class Member who fails to submit a timely objection will be deemed to have waived any objection they might have, and any untimely objection will be barred absent an order from the Court.
Objections must include: (1) the case name and number; (2) your full name, current address, telephone number, and signature; (3) a statement that you are a Settlement Class Member and an explanation of the basis upon which you claim to be a Settlement Class Member; (4) all grounds for the objection, accompanied by any legal support known to you or your counsel; (5) a statement as to whether you or your counsel intends to personally appear and/or testify at the Final Approval Hearing; and (6) a list of any persons you or your counsel may call to testify at the Final Approval Hearing in support of your objection.
The Court has granted preliminary approval of the proposed Settlement, finding that it is sufficiently reasonable to warrant such preliminary approval, and has approved delivery of this notice to Settlement Class Members. The Settlement will not take effect, however, until it receives final approval from the Court following an opportunity for Settlement Class Members to object to the Settlement.
Following the deadline for objecting to the Settlement, the Court will hold a Final Approval Hearing on December 18, 2025, to consider any objections. The Final Approval Hearing will take place by Zoom videoconference. The date and location of the Final Approval Hearing is subject to change by Order of the Court, which will appear on the Court’s docket for this case.
Any changes to the time or venue of the Final Approval Hearing will be posted on this website.
You may contact the Settlement Administrator at NVIDIAERISA@noticeadministrator.com, or call at 888-776-3713.