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September 23, 2023

Marvell Technology

FLASH: Sales, Accounting Personnel Face Pressure to Meet Revenue Goals

Marvell Technology Group's audit committee launched an investigation into the company's revenue recognition policies last September. They didn't find any funny business but did learn that “internal controls were not fully followed,” “revenue was recognized prematurely for some transactions,” and the real bombshell: The committee also said there was "significant pressure" on sales and finance […]