Marvell Receives Nasdaq Notification

Marvell Technology Group Ltd. announced that on September 14, 2015, it received a notice from The Nasdaq Stock Market stating that the company is not in compliance with Nasdaq Marketplace Rule 5250(c)(1) because the company has not timely filed its quarterly report on Form 10-Q for the fiscal quarter ended August 1, 2015.

The company intends to submit a plan of compliance to Nasdaq to support its request for an extension of time to regain compliance with continued listing requirements of up to 180 calendar days from the due date of the Quarterly Report on Form 10-Q for the fiscal quarter ended August 1, 2015.

The company’s securities will remain listed on the NASDAQ Global Select Market pending Nasdaq’s review of the plan of compliance.

As previously announced on September 11, 2015, the audit committee of the company’s board of directors is conducting an independent investigation of certain accounting and internal control matters for the fiscal quarter ended August 1, 2015. The company intends to file a quarterly report on Form 10-Q for the fiscal quarter ended August 1, 2015, as soon as practicable following the conclusion of the audit committee’s investigation.