MRVL » Topics » Marvell Technology Group Ltd. Receives Additional Notice from Nasdaq

This excerpt taken from the MRVL 8-K filed Jun 18, 2007.

Marvell Technology Group Ltd. Receives Additional Notice from Nasdaq

Santa Clara, California (June 18, 2007) — Marvell Technology Group Ltd. (Nasdaq: MRVL) today announced that it has received a notice from the NASDAQ Stock Market dated June 11,2007 stating that the Company is not in compliance with NASDAQ’s Marketplace Rule 4310(c)(14) because the Company has not timely filed its Quarterly Report on Form 10-Q for the fiscal quarter ended April 28, 2007 and, therefore, its common stock continues to be subject to delisting from The Nasdaq Global Select Market. Marvell received similar notices on March 30, 2007, December 8, 2006, and September 8, 2006 due to the delay in filing its Form 10-K for the fiscal year ended January 27, 2007 and its Forms 10-Q for the fiscal quarters ended October 28, 2006 and July 29, 2006.  As previously disclosed, a special committee of the Company’s Board of Directors has conducted an internal review relating to the Company’s historical stock option practices and related accounting matters.  The Company is working diligently to complete the restatement of its historical financial statements and file its delayed Forms 10-Q and Form 10-K as soon as practicable.

On May 25, 2007, the NASDAQ Listing and Hearing Review Council issued a decision staying any delisting action and granting an extension to June 26, 2007 for Marvell to file its Form 10-K for the fiscal year ended January 27, 2007 and its Forms 10-Q for the fiscal quarters ended October 28, 2006 and July 29, 2006.  Marvell intends to make an additional submission to the Listing Council regarding its plans to file the Form 10-Q for the fiscal quarter ended April 28, 2007.  There can be no assurance that the outcome of the Listing Council’s review will be favorable to Marvell or that Marvell will remain listed on The Nasdaq Global Select Market.

This excerpt taken from the MRVL 8-K filed Apr 2, 2007.

Marvell Technology Group Ltd. Receives Additional Notice from Nasdaq

Santa Clara, California (April 2, 2007) — Marvell Technology Group Ltd. (Nasdaq: MRVL) today announced that it has received a notice from the NASDAQ Stock Market on March 30,2007 stating that the Company is not in compliance with NASDAQ’s Marketplace Rule 4310(c)(14) because the Company has not timely filed its Annual Report on Form 10-K for the fiscal year ended January 27, 2007.  Marvell received similar notices on December 8, 2006 and September 8, 2006 due to the delay in filing its Forms 10-Q for the fiscal quarters ended October 28, 2006 and July 29, 2006, respectively.  As previously disclosed, a special committee of the Company’s Board of Directors is conducting an internal review relating to the Company’s historical stock option practices and related accounting matters.  Marvell intends to file its delayed Forms 10-Q and Form 10-K as soon as practicable following the conclusion of the special committee’s review.

Marvell had a hearing before a NASDAQ Listing Qualifications Panel regarding the continued listing of its shares on the NASDAQ Stock Market, and has appealed the decision of that Panel to the NASDAQ Listing and Hearing Review Council, which stayed the Panel’s decision pending further action.  The Company does not know when the Listing Council may take any further action regarding its stay.  The Company’s shares will remain listed on the NASDAQ Stock Market pending a decision by the Listing Council.

Marvell’s Current Report on Form 8-K filed today with the Securities and Exchange Commission contains more detailed discussion of the Company’s NASDAQ status.

This excerpt taken from the MRVL 8-K filed Dec 13, 2006.

Marvell Technology Group Ltd. Receives Additional Notice from Nasdaq

Santa Clara, California (December 13, 2006) – Marvell Technology Group Ltd. (Nasdaq: MRVL) today announced that it has received a notice from the Nasdaq Stock Market on December 8, 2006 stating that the Company is not in compliance with Nasdaq’s Marketplace Rule 4310(c)(14) because the Company has not timely filed its Quarterly Report on Form 10-Q for the quarter ended October 28, 2006.  Marvell received a similar notice on September 8, 2006 due to the delay in filing its Form 10-Q for the fiscal quarter ended July 29, 2006.  As previously disclosed, the Company has delayed the filing of its Forms 10-Q for the fiscal quarters ended July 29, 2006 and October 28, 2006 due to the special committee’s ongoing investigation into the Company’s historical stock option practices and related accounting matters.   Marvell intends to file its Form 10-Q for the fiscal quarters ended July 29, 2006 and October 28, 2006 as soon as practicable following the conclusion of the special committee’s review.

Marvell had a hearing before a Nasdaq Listing Qualifications Panel for continued listing on the Nasdaq Stock Market on October 19, 2006.  The Company is awaiting the decision of the Listing Qualifications Panel.  The Company’s securities will remain listed on the Nasdaq Stock Market pending a decision by the Nasdaq Listing Qualifications Panel.

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