The backdating-plagued semiconductor maker and one of its prime executives have received Wells notices � meaning securities investigators plan to seek financial penalties.
October 17, 2007 at 12:00 AM
1 minute read
The Securities and Exchange Commission has notified Marvell Technology and one of its top officers that it plans to sue over stock option backdating.
The semiconductor maker announced in SEC filings Friday that it received a Wells notice � a letter from the SEC announcing an intent to seek financial penalties � for the company itself. Weili Dai, the company’s ex-COO and current head of marketing and business development, also received one, the company said.
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