The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Marvell Technology Litigation:

 

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

SAN FRANCISCO DIVISION

 
DANIEL LUNA, Individually and on Behalf of All )  

Case No. 3:15-cv-05447-WHA

Others Similarly Situated, )

(Consolidated)

Plaintiff,

)

CLASS ACTION

vs. )

SUMMARY NOTICE

MARVELL TECHNOLOGY GROUP, LTD., et al., )
Defendants. )
)
)
  )
 
TO:       ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED MARVELL TECHNOLOGY GROUP, LTD. (“MARVELL”) COMMON STOCK DURING THE PERIOD FROM FEBRUARY 19, 2015 THROUGH DECEMBER 7, 2015, INCLUSIVE
 

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on April 17, 2018, at 9:00 a.m., before the Honorable William Alsup, United States District Judge, at the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, California, for the purpose of determining: (1) whether the proposed settlement as set forth in the Stipulation of Settlement, dated December 19, 2017 (“Stipulation”), of the above-captioned action (“Litigation”) for $72,500,000.00 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether a Judgment should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys’ fees and expenses should be approved.

IF YOU PURCHASED OR ACQUIRED MARVELL COMMON STOCK BETWEEN FEBRUARY 19, 2015 AND DECEMBER 7, 2015, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release form (“Proof of Claim and Release”), you may obtain copies by writing to Marvell Technology Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 404041, Louisville, KY 40233-4041, or on the internet at www.MarvellSecuritiesClassAction.com.

If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail postmarked no later than May 7, 2018,or submitted electronicallyno later than May 7, 2018, establishing that you are entitled to recovery. Your failure to submit your Proof of Claim and Release by May 7, 2018, will subject your claim to possible rejection and may preclude you from receiving any of the recovery in connection with the settlement of this Litigation. If you are a Member of the Class and do not request exclusion, you will be bound by the settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim and Release.

To exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than March 27, 2018. All Members of the Class who have not requested exclusion from the Class will be bound by the settlement entered in the Litigation even if they do not submit a timely Proof of Claim and Release.

Any objection to the settlement, the Plan of Allocation, or the fee and expense application must be submitted to the Court in accordance with the instructions set forth in the Notice no later than March 27, 2018. If you object, but also want to be eligible for a payment from the settlement, you must still submit a Proof of Claim and Release or you will not receive a payment from the settlement.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the settlement, you may contact Lead Counsel at the following address:

ROBBINS GELLER RUDMAN
& DOWD LLP
ELLEN GUSIKOFF STEWART
655 West Broadway, Suite 1900
San Diego, CA 92101

                                                       
DATED: December 21, 2017

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA