Try to launch MATLAB in software openGL mode. If this works, try updating the graphics drivers and then launch MATLAB back in hardware opengl mode.
You can use "matlab -softwareopengl" command to launch MATLAB in software openGL mode. More information about different startup options to launch MATLAB can be found here.
You might also want to take a look at the opengl command to switch between software and hardware openGL mode.
There is also a good documentation on Resolving Low-Level Graphics Issues which gives some useful information.
