MRVL—MARVELL TECHNOLOGY GROUP INVESTORS ALERT: Lieff Cabraser Reminds Investors of Upcoming Deadline in Class Action Litigation

SAN FRANCISCO--()--The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming deadline to move for appointment as lead plaintiff in securities class litigation brought on behalf of investors who purchased or otherwise acquired the securities of Marvell Technology Group, Inc. (“Marvell” or the “Company”) (NasdaqGS: MRVL) between November 20, 2014 and September 10, 2015, inclusive (the “Class Period”).

If you purchased or otherwise acquired Marvell securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than November 10, 2015. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Marvell investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.

The actions allege that during the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) that Marvell had engaged in inappropriate revenue recognition practices; (2) that the Company’s senior management encouraged a closed and ineffective control environment; (3) that the Company’s key accounting metrics were misstated; and (4) that the Company lacked adequate internal controls.

On September 11, 2015, Marvell reported a quarterly loss of $382.4 million for its second quarter of fiscal 2016, whereas analysts on average had predicted a quarterly profit of $11.9 million. The Company also announced an internal probe by its Audit Committee, focused on the approximately 7-8% of revenue recognized in the second quarter of fiscal 2016 that, based upon original customer request date, would have been received and earned in the third quarter of fiscal 2016 and is now no longer available for receipt in that quarter. On this news, Marvell’s common stock price fell $1.71 per share, or 16.21%, to close at $8.84 on September 11, 2015, on extraordinarily high volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP is a nationally recognized law firm committed to advancing investor rights and promoting corporate responsibility.

For twelve years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law Firm of the Year” each year the publications have given this award to law firms, including in 2015.

For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Source/Contact for Media Inquiries Only:
Lieff Cabraser Heimann & Bernstein, LLP
Sharon M. Lee, 800-541-7358

Release Summary

Investors reminded of upcoming deadline for appointment as lead plaintiff in securities class litigation against Marvell Technology Group, Inc. (NasdaqGS: MRVL) on trades between 11/20/14 and 09/10/15

Contacts

Source/Contact for Media Inquiries Only:
Lieff Cabraser Heimann & Bernstein, LLP
Sharon M. Lee, 800-541-7358