Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $72.5 Million Settlement in the Marvell Technology Group Ltd (NASDAQ:MRVL) Investor Lawsuit

Via: ReleaseWire

Updated 11:45 AM CDT, Mon, May 07,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Marvell Technology Group Ltd (NASDAQ: MRVL) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on May 7, 2018 and NASDAQ: MRVL investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 05/07/2018 -- A deadline is coming up on May 7, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Marvell Technology Group Ltd (NASDAQ: MRVL) between February 19, 2015 and December 7, 2015.

Investors who purchased a significant amount of shares of Marvell Technology Group Ltd (NASDAQ: MRVL) between February 19, 2015 and December 7, 2015, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Marvell Technology Group Ltd (NASDAQ: MRVL) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/marvell-technology-group-ltd-nasdaq-mrvl-investor-securities-class-action-lawsuit-09112015

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is May 7, 2018. The class action administrator for this case is Gilardi & Co LLC.

The lawsuit was originally filed in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Marvell Technology Group Ltd in connection with certain allegedly false and misleading statements made between November 20, 2014 and September 10, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Marvell Technology Group Ltd (NASDAQ: MRVL) common shares between November 20, 2014 and September 10, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 20, 2014 and September 10, 2015 made allegedly false and/or misleading statements and/or allegedly failed to disclose that Marvell Technology Group Ltd had engaged in inappropriate revenue recognition practices, that Marvell Technology Group Ltd's management permitted an inappropriate and ineffective control environment, that as a result, Marvell Technology Group Ltd's key accounting metrics were misstated, that Marvell Technology Group Ltd lacked adequate controls at all relevant times, and that as a result of the foregoing, defendants' statements about Marvell Technology Group Ltd's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Those who purchased shares of Marvell Technology Group Ltd (NASDAQ: MRVL) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-725-million-settlement-in-the-marvell-technology-group-ltd-nasdaqmrvl-investor-lawsuit-973224.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com