Starboard Value has a 6.7% stake in Marvell Technology (MRVL), looking to help the company navigate its recent accounting scandal. The stock is down 40% on the year.
The company is undergoing an accounting review, with inquiries from US officials. It’s also trying to exit the mobile chip business and focus on storage devices, very promising.
Starboard will have a good, and perhaps easy, time taking the husband and wife co-founders, who serve as CEO/Chairman and President, to task.
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In all likelihood, Starboard will eventually push for a takeover of MRVL.