Marvell To Pay $10M To End SEC’s Backdating Case

Law360, New York (May 8, 2008, 12:00 AM EDT) -- Marvell Technology Group Ltd. has agreed to shell out $10 million to resolve allegations by the U.S. Securities and Exchange Commission that the semiconductor maker backdated stock option grants to employees and misrepresented financial data.

Weili Dai, co-founder of the Silicon Valley firm and former chief operating officer, was also accused of playing a role in the backdating scheme and will pay $500,000 to settle the claims filed in the U.S. District Court for the Northern District of California.

Both Marvell and Dai entered the settlement...
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