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Marvell Technology Group Ltd. Receives NASDAQ Notification Related to the Late Filing of Form 10-Q

Santa Clara, California — Marvell Technology Group Ltd. (Nasdaq: MRVL) today announced that on September 9, 2006 it received a notice from The Nasdaq Stock Market stating that the Company is not in compliance with Nasdaq Marketplace Rule 4310(c) (14) because the Company has not timely filed its Report on Form 10-Q for the fiscal quarter ended July 29, 2006. Marvell intends to request a hearing before a Nasdaq Listing Qualifications Panel for continued listing on the Nasdaq Global Market. The Company’s securities will remain listed on the Nasdaq Global Market pending a decision by the Nasdaq Listing Qualifications Panel. There can be no assurance that the hearing panel will grant the Company’s request for continued listing.

As previously announced, the Company has delayed the filing of its Form 10-Q for the fiscal quarter ended July 29, 2006 because a special committee is conducting a review of the Company’s historical stock option practices and related accounting matters. The Company intends to file its Form 10-Q for the fiscal quarter ended July 29, 2006 as soon as practicable following the conclusion of the special committee’s review.

Miércoles, 13 Septiembre, 2006 - 07:37
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