Stock option back dating marvell

Added: Jadine Clover - Date: 30.01.2022 11:33 - Views: 38781 - Clicks: 693

The class-action lawsuit was filed by shareholders in August against Marvell and some former and current executives relating to the company's stock-option grant practices.

Stock option back dating marvell

The settlement is subject to approval by the U. District Court for the Northern District of California. The final approval, and an earlier agreement to settle a shareholder derivative lawsuit, will end shareholder litigation involving Marvell related to its past stock backdating practices, the company said in a statement. The settlement follows other problems that Marvell has faced due to its stock backdating practices. In a May 28 filing with the U.

Securities and Exchange Commission, Marvell said it had to restate historical financial statements to record additional noncash charges for stock-based compensation expenses related to historical option grants.

Stock option back dating marvell

Incompany employees, including Marvell's current CEO, Sehat Sutardja, were found to have participated in instances of backdating. They agreed to repay the company for any profits made from such actions. The company on Tuesday also restated its earnings for the first quarter of fiscal to reflect the impact of litigation fees and other expenses.

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Stock option back dating marvell

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Stock option back dating marvell

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Marvell Settles SEC Charges On Stock Option Backdating