MARVELL SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Exces...
September 21 2015 - 8:46PM
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until
November 10, 2015
to file lead plaintiff applications in a securities class action
lawsuit against Marvell Technology Group Ltd. (NasdaqGS:MRVL) if
they purchased the Company’s securities between November 20, 2014
and September 10, 2015, inclusive (the “Class Period”). This
action is pending in the United States District Court for the
Southern District of New York.
What You May Do
If you purchased shares of Marvell and would
like to discuss your legal rights and how this case might affect
you and your right to recover for your economic loss, you may,
without obligation or cost to you, call toll-free at 1-877-515-1850
or email KSF Managing Partner Lewis Kahn
(lewis.kahn@ksfcounsel.com). If you wish to serve as a lead
plaintiff in this class action, you must petition the Court by
November 10, 2015.
About the Lawsuit
Marvell and certain of its executives are
charged with failing to disclose material information during the
Class Period, violating federal securities laws.
On September 11, 2015, Marvell announced its
preliminary second-quarter of fiscal year 2016 results of a loss of
$382.4 million, whereas analysts had predicted a profit of $11.9
million. The Company further revealed that the audit
committee of the board “is conducting an investigation of certain
accounting and internal control matters,” including whether revenue
was recognized earlier than it should have been and whether senior
management “set an appropriate tone for an effective control
environment.”
On this news, the price of Marvell’s stock
plummeted by over 16%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include
the Former Louisiana Attorney General, Charles C. Foti, Jr., and
other lawyers with significant experience litigating complex
securities class actions nationwide on behalf of both institutional
and individual shareholders, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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