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This excerpt taken from the MRVL 10-Q filed Dec 11, 2008. Section 16(b) Litigation. On October 9, 2007, a purported
shareholder of the Company filed a complaint for violation of Section 16(b) of
the Exchange Act, which prohibits short swing trading, against the Company’s
IPO underwriters. The complaint Vanessa
Simmonds v. The Goldman Sachs Group, et al., Case No. C07-1632
filed in District Court for the Western District of Washington, seeks the
recovery of short-swing profits. The Company is named as a nominal defendant.
No recovery is sought from the Company.
Numerous similar suits were filed by the same plaintiff against other
underwriters relating to other issuers.
A hearing on motions to dismiss filed by the underwriter defendants and
some of the issuer defendants (excluding the Company) is scheduled for January 16,
2009. All discovery is stayed pending
resolution of the moving defendants’ motions to dismiss.
This excerpt taken from the MRVL 10-Q filed Sep 10, 2008. Section 16(b) Litigation.
On October 9, 2007, a purported Marvell shareholder filed a
complaint for violation of Section 16(b) of the Exchange Act, which
prohibits short-swing trading, against our IPO underwriters. The complaint, Vanessa Simmonds v. The Goldman Sachs Group, et
al., Case No. C07-1632 filed in District Court for the Western
District of Washington, seeks the recovery of short-swing profits. We are named
as a nominal defendant. No recovery is sought from us. The underwriter
defendants and some of the issuer defendants (excluding us) filed motions to dismiss on July 25,
2008; the plaintiff’s opposition briefing was due on September 8, 2008;
40
the moving defendants’ reply briefs are due on October 23, 2008 when the District Court will consider setting a hearing date for the motions. All discovery is stayed pending resolution of the moving defendants’ motions to dismiss.
This excerpt taken from the MRVL 10-Q filed Jun 6, 2008. Section 16(b) Litigation. On October 9, 2007, a purported Marvell
shareholder filed a complaint for violation of Section 16(b) of the
Exchange Act, which prohibits short-swing trading, against our IPO
underwriters. The complaint, Vanessa
Simmonds v. The Goldman Sachs Group, et al., Case No. C07-1632
filed in District Court for the Western District of Washington, seeks the
recovery of short-swing profits. We are named as a nominal defendant. No
recovery is sought from us. At a status conference on April 28, 2008, the
District Court ruled that the defendants’ motion to dismiss opening briefs are
due on July 25, 2008; the plaintiff’s opposition brief
40
will be due on September 8, 2008; the defendants’ reply briefs are due on October 23, 2008 when the District Court will consider setting a hearing date for the motions; and all discovery is stayed pending resolution of the defendants’ motions to dismiss.
This excerpt taken from the MRVL 10-Q filed Dec 6, 2007. 16(b) Litigation. On October 9, 2007, a purported
Marvell shareholder filed a complaint for violation of Section 16(b) of the
Securities Exchange Act of 1934, which prohibits short-swing trading, against
our IPO underwriters. The complaint,
Vanessa Simmonds v. The Goldman Sachs Group, et al., Case No. C07-1632, in
District Court for the Western District of Washington, seeks the recovery of
short-swing profits. We are named as a
nominal defendant. No recovery is sought
from us.
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