The Business Times
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Marvell Tech slumps on internal probe, weaker demand

Published Sun, Sep 13, 2015 · 09:50 PM

    San Francisco

    MARVELL Technology Group Ltd plunged the sharpest in almost 13 years after disclosing an internal investigation of its accounting and reporting weakening demand for personal computer parts.

    The chipmaker's shares dropped 16 per cent to close at US$8.84 in New York on Friday, the biggest single-day decline since October 2002. The stock has tumbled 39 per cent this year.

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