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Marvell Tech slumps on internal probe, weaker demand

Marvell's audit committee is looking into about 7-8 per cent of revenue recognised in the second quarter that would have been received in the third period, said a company statement.

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...

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