SANTA CLARA, Calif.,
April 4, 2016 /PRNewswire/ -- Marvell
Technology Group Ltd. (Nasdaq: MRVL) today announced that, as a
result of its delayed filing of its Form 10-K for fiscal 2016, as
disclosed in the Form 12b-25 filed on March
31, 2016, Marvell received notice from the Listing
Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") that
this matter serves as an additional basis for delisting Marvell's
securities from the Nasdaq Stock Market, which will be considered
at Marvell's upcoming hearing before the Nasdaq Hearings Panel (the
"Panel"). Marvell is scheduled for a hearing before the
Panel on April 14, 2016. The
Panel granted Marvell's request for the Company's shares to remain
trading on Nasdaq pending the hearing and a final determination
following the hearing. See the Form 12b-25 filed on
March 31, 2016 for further
information regarding the preparation of the Company's Annual
Report on Form 10-K.
About Marvell
Marvell (NASDAQ: MRVL) is a
global leader in providing complete silicon solutions and Kinoma
software enabling the "Smart Life and Smart Lifestyle." From
storage to Internet of Things (IoT), cloud infrastructure, digital
entertainment and in-home content delivery, Marvell's diverse
product portfolio aligns complete platform designs with
industry-leading performance, security, reliability and efficiency.
At the core of the world's most powerful consumer, network and
enterprise systems, Marvell empowers partners and their customers
to always stand at the forefront of innovation, performance and
mass appeal. By providing people around the world with mobility and
ease of access to services adding value to their social, private
and work lives, Marvell is committed to enhancing the human
experience.
As used in this release, the term "Marvell" refers to Marvell
Technology Group Ltd. and its subsidiaries. For more
information, please visit www.Marvell.com. Marvell and the M logo,
are registered trademarks of Marvell and/or its affiliates.
For further
information, contact:
|
|
John Spencer
Ahn
|
Sue Kim
|
Investor
Relations
|
Media
Relations
|
408-222-7544
|
408-222-1942
|
johnahn@marvell.com
|
suekim@marvell.com
|
|
|
Logo -
http://photos.prnewswire.com/prnh/20100719/SF36559LOGO-b
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/marvell-technology-group-ltd-receives-nasdaq-staff-determination-letter-will-remain-listed-pending-hearing-300245263.html
SOURCE Marvell