Marvell

As local counsel and key member of litigation team, Berman Tabacco actively assisted in the prosecution of this securities class action that settled for $72 million on behalf of investors. The case contended that defendants engaged in a scheme to manipulate Marvell’s financials by backdating executive and employee stock-option grants. The company had to ultimately restate its financial statements from the company’s 2000 initial public offering through the first quarter of the 2007 financial year. For the period covered by the restatement, Marvell had understated the cumulative effect of its compensation expense by $327.3 million and overstated net income by $309.4 million.