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Marvell Technology Group Ltd. Receives Additional Notice from Nasdaq

Santa Clara, California — Marvell Technology Group Ltd. 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.

Jueves, 14 Diciembre, 2006 - 10:41
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