“Investors rely on public companies to supply them with financial results they can use to make informed investment decisions,” said Anita B. Bandy, an associate director in the SEC’s Division of Enforcement. “Marvell’s failure to disclose its use of sales pull-ins to investors created a misleading and incomplete picture about the company’s financial results and ability to meet its revenue targets.”

The SEC’s order finds that Marvell violated the antifraud and reporting provisions of the federal securities laws.  Without admitting or denying the SEC’s findings, Marvell consented to the order, agreeing to cease and desist from further violations and to pay a $5.5 million penalty.