SANTA CLARA, Calif.,
Aug. 15, 2016 /PRNewswire/ -- Marvell
(NASDAQ:MRVL), a world leader in storage, cloud infrastructure,
Internet of Things (IoT), connectivity and multimedia semiconductor
solutions, today announced that the Company has regained compliance
with Nasdaq listing requirement for being current on periodic
filings with the Securities and Exchange Commission, under Listing
Rule 5250(c)(1). The filings of the Company's Annual Report
on Form 10-K for fiscal year 2016, ended January 30, 2016, and its
Quarterly Reports on Form 10-Q for the second and third quarters of
fiscal 2016, were completed on July 21, 2016. The filing of the
Company's Quarterly Report on Form 10-Q for the first quarter of
fiscal 2017 ended April 30, 2016 was completed on August 10,
2016. Accordingly, the Company received notice that the
Nasdaq Hearings Panel has determined to continue the listing of the
Company's securities on the Nasdaq Stock Market.
"We are very pleased to finally be current in our financial
filings and regain compliance with Nasdaq listing requirements,"
said Matt Murphy, Marvell's
President and CEO. "It took months of dedicated work on the part of
the Marvell team and our advisors to achieve this milestone.
I'd like to congratulate everyone for a job well done. I'd
also like to thank our customers and investors for their patience
during this time."
About Marvell
Marvell (NASDAQ: MRVL) is a global leader in providing complete
silicon solutions. From storage to cloud infrastructure, Internet
of Things (IoT), connectivity and multimedia, 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, personal
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 Marvell logo are registered
trademarks of Marvell and/or its affiliates.
For further
information, contact:
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John Spencer
Ahn
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Sue Kim
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Investor
Relations
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Media
Relations
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408-222-7544
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408-222-1942
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johnahn@marvell.com
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suekim@marvell.com
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SOURCE Marvell Technology Group Ltd.