Thieler Law Corp advises investors with losses exceeding $100,000 of the November 10, 2015 lead plaintiff deadline in a class action lawsuit filed against Marvell Technology Group LtdInc (NASDAQ: MRVL) (“Marvell Technology” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Marvell Technology securities between November 20, 2014 and September 10, 2015, have until November 10, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Marvell Technology securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Marvell Technology had engaged in inappropriate revenue recognition practices and that the Company’s management allowed for an ineffective environment that was out of control. As a result, Marvell Technology’s key accounting metrics were misstated and that the Company lacked adequate controls at all relevant times. The complaint alleges that due to the lack of these disclosures, Defendants’ statements about Marvell Technology’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis during the time period specified.

On September 11, 2015, the Company reported a quarterly loss of $382.4 million for its fiscal second quarter, whereas analysts on average had predicted a quarterly profit of $11.9 million. Marvell Technology also announced an internal probe by its Audit Committee into Marvell Technology’s accounting practices including its revenue recognition, litigation reserves, and internal controls. On this news NASDAQ: MRVL stock dropped $1.71 per share, or nearly 17%, to close on September 11, 2015 at $8.84 per share, on unusually high volume.

If you were negatively impacted by your investment in Marvell Technology securities between November 20, 2014 and September 10, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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