Marvell Plunges; SEC, U.S. Attorney Probe Accounting

By | December 8, 2015

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Marvell Technology Group (MRVL) stock fell below its 200-day moving average Tuesday after the company late Monday said two federal government agencies had joined in its review of its accounting practices. The SEC and U.S. Attorney’s Office are joining its audit committee’s investigation into those practices, Marvell said in its fiscal Q3 earnings release late Monday. Marvell stock was down 6.6% in midday trading on the stock market today, near Scalper1 News

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