Notification to Marvell Technology Group Investors of Proposed $72 Million Settlement Of Class Action Lawsuit
SAN JOSE, Calif., Aug 28, 2009 /PRNewswire-FirstCall via COMTEX/ --
Company: Marvell Technology Group Ltd. (MRVL)
A Federal Court has ordered notice be given to all persons and entities who purchased or acquired Marvell Technology Group LTD. securities between February 27, 2003 and October 2, 2006, inclusive (the "Class") that a lawsuit captioned In re Marvell Technology Group Ltd.Securities Litigation, Master File No. C-06-06286 RMW, has been certified as a class action and that a cash settlement of Seventy Two Million Dollars ($72,000,000) has been proposed.
A hearing will be held before the Honorable Ronald M. Whyte in the United States District Court for the Northern District of California, Robert F. Peckham Courthouse & Federal Building, 280 South First Street, San Jose, California 95113, Courtroom 6, at 9:00 a.m., on November 6, 2009 to determine whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable and adequate; (2) the Plan of Allocation should be approved; (3) Co-Lead Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses should be approved; (4) the claims against Defendants should be dismissed with prejudice; and (5) the Court should rule on such other matters as the Court deems appropriate.
Members of the class described above may be entitled to share in the settlement fund and their rights will be affected whether they act or not. Those who have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Litigation Expenses, and Settlement Fairness Hearing (the "Notice") and Proof of Claim and Release form ("Proof of Claim"), may obtain copies of these documents by contacting:
In re Marvell Technology Group Ltd. Securities Litigation
c/o Epiq Systems
Claims Administrator
P.O. Box 5270
Portland, OR 97208-5270
(877) 271-1389
Inquiries, other than requests for the Notice and Proof of Claim, may be
made to Co-Lead Counsel:
Michael K. Yarnoff, Esq. Joseph C. Kohn, Esq.
John A. Kehoe, Esq. Denis F. Sheils, Esq.
Barroway Topaz Kessler Kohn, Swift & Graf, P.C.
Meltzer & Check, LLP One South Broad Street
280 King of Prussia Road Suite 2100
Radnor, PA 19087 Philadelphia, PA 19107
To participate in the Settlement, Class members must submit a Proof of Claim no later than December 18, 2009. Members of the Class that do not submit a timely, valid Proof of Claim will not share in the settlement, but nevertheless will be bound by the Order and Final Judgment entered by the Court in this litigation. As more fully described in the Notice, the deadline for submitting objections and requests for exclusion is October 23, 2009.
Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, Epiq Systems, at the address listed above, or by visiting www.MarvellSecuritiesSettlement.com.
SOURCE Marvell Technology Group Securities Litigation Settlement Administrator, Epiq Systems Inc.
http://www.MarvellSecuritiesSettlement.com
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Company: Marvell Technology Group Ltd. (MRVL)
Related terms: california, federal, lawsuit, pennsylvania, securities, technology, writing
