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Marvell Technology Group Ltd. Receives Nasdaq Staff Determination Letter; Will Remain Listed Pending Hearing
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.
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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
