The Securities and Exchange Commission has charged semiconductor maker Marvell Technology Group and its co-founder with backdating employee stock option grants.
Without admitting or denying the allegations, Marvell agreed to settle the charges by paying a $10 million civil penalty, while former chief operating officer Weili Dai will pay an additional $500,000. Dai also consented to an order barring her from serving as an officer or director of a public company for five years.
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