Settlement Nears In Marvell Backdating MDL

Law360, New York (March 19, 2008, 12:00 AM EDT) -- The multidistrict derivative suit against Marvell Technology Group Ltd.'s board of directors over allegations of options backdating and insider trading has been put on hold as the two sides finalize a tentative settlement.

The most recent milestone on the road to an agreement came on Wednesday, when Judge Ronald M. Whyte of the U.S. District Court for the Northern District of California denied Marvell's motion to dismiss, which had been pending for over a year, without prejudice.

The lead plaintiff and the defendants announced they had...
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