Thursday, June 11, 2009

Marvell Technologies Settles Speeding Ticket.

Marvell Technology (NASDAQ:MRVL) reached a settlement in it’s shareholder class action lawsuit. They have made some changes to their previously reported G&A account for Q1 earnings of about $0.12 per share. The lawsuit revolves around stock option granting. It is interesting to note that the press release did not mention one word about changes to corporate governance, censure of corporate executives or board members who allowed and or condoned the practice. Is this just a speeding ticket and will they screw shareholders again.