NEW ORLEANS, Oct. 9, 2015 /PRNewswire/ -- 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
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a
law firm focused on securities, antitrust and consumer class
actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New
York, California and
Louisiana.
To learn more about KSF, 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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SOURCE Kahn Swick & Foti, LLC