NEW CASES

FULLY
EQUIPPED

Shareholder Class Action Filed Against Marvell Technology Group, Ltd.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of Marvell Technology Group, Ltd. (Nasdaq: MRVL) (“Marvell”) between November 20, 2014 and September 10, 2015, inclusive (the “Class Period”).

Marvell Technology Group, Ltd. investors may receive additional information about the case by clicking the link "Join this Class Action" above.                
  

Marvell designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits.  The Company offers mobile and wireless products comprising communications and applications processors, thin modems, and connectivity solutions.

The Complaint alleges that Marvell and certain of its executive officers made a series of false and misleading statements during the Class Period and/or failed to disclose that: (1) Marvell had engaged in inappropriate revenue recognition practices; (2) the Company’s management permitted an inappropriate and ineffective control environment; (3) as a result, Marvell’s key accounting metrics were misstated; (4) that the Company lacked adequate controls at all relevant times; and (5) and as a result of the foregoing, the defendants’ statements about Marvell’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On September 11, 2015, the Company reported a quarterly loss of $382.4 million for its fiscal second quarter, against analyst expectations of a quarterly profit of $11.9 million for the quarter.  The Company also announced an internal probe by its Audit Committee into Marvell’s key accounting practices including its revenue recognition, litigation reserves, and internal controls. Marvell further reported that it would be unable to timely file its quarterly report due to the fact that the Audit Committee was examining “certain revenue recognition issues in the second quarter of fiscal 2016 and any associated issues with whether senior management’s operating style during the period resulted in an open flow of information and communication to set an appropriate tone for an effective control environment.”

On this news shares, shares of Marvell stock fell $1.71 per share, or over 16%, to close on September 11, 2015 at $8.84 per share, on unusually high volume.

If you are a member of the class described above, you may no later than November 10, 2015, move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.


Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP.


CONTACT:  

Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087

1-888-299-7706 (toll free) or 1-610-667-7706

Please list your purchase and sale transaction(s) in the Marvell Technology Group, Ltd. (Nasdaq: MRVL) security that is subject of this action during the Class Period (between November 20, 2014 and September 10, 2015):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Marvell Technology Group, Ltd. prior to the class period?
Area you a current or former employee of Marvell Technology Group, Ltd.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
How did you hear about this case?
Sign Up for Monthly Update: