Deal In Securities Case V. Marvell Wins Initial OK

Law360, New York (May 21, 2009, 12:00 AM EDT) -- A federal judge has granted preliminary approval to a settlement in derivative securities litigation against semiconductor maker Marvell Technology Group Ltd., which includes a deal to pay $16 million in attorneys' fees but no additional payments to the company.

Judge Ronald M. Whyte of the U.S. District Court for the Northern District of California issued the order Thursday, scheduling a settlement hearing for July 17 to determine whether the settlement is fair to Marvell shareholders and the company.

The Santa Clara, Calif.-based semiconductor company first announced...
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