that trade was a fluke. If it meant anything the stock would not be bidding $11.00 right now, today. And on volume of 151 shares. So the 105 shares was a fluke.
Seeking Alpha has a long story on the legal matter dated Sept 1. Here is part of it: Although past mediation efforts have proven unfruitful, Judge Fischer wants the parties to give it another go. Dkt. 982. She recently ordered CMU and Marvell to see a third mediator, Thomas Frampton, a former state trial court judge and a practicing trial lawyer. Id. The parties must notify the district court of the mediation date by September 11, 2015, and must mediate before October 31, 2015. Id.
Also, the article said the matter could take "years to settle" and may end up in the Supreme Court. The inventors could die by then so they may want to settle. So a couple dates set by the court for a mediator is Sept 11 and Oct. 31.
Why can't an acquirer inherit the legal matter? Why can't they sell the wireless unit when the court ruled the damages are maybe 20% of the estimated value of that unit being 1.5 billion.
I see that too maybe from a different site than you. Curious to delay earnings one week. I think there are talks going on and this weekend may have been set for serious talks of some kind. You do not want to release earnings based on a part of the company that is being sold. Or give guidance because you do not know the composition of the company going forward. Look back on July 13 there was a story that a Chinese company wanted to take Marvel private. Private companies do not release earnings, at least unless the want to. Dell went private to keep from having to try to keep meeting earnings estimates. If the Marvel news was so bad like a loss of 5 cents vs. profit of 11 cents, you do not announce the day of earnings that you are delaying. Earnings misses are told days or weeks in advance, it's called pre-announcement to get the bad news out there so the stock can react. There is high insider ownership. They would be foolish to know the earnings are terrible and to hide it until the morning of the 20th and then like magic they have all the accounting done a week later on the 27th. I think there is some announcement on Monday, and then something "else" during the earnings on the 27th.
Waiting until the day of earnings to announce an accounting issue seems unlikely. The Q ended July 31 and they have had 19 days to get the math done. We think there is an event going on. They may be in talks to sell the wireless unit, price not yet known, and when they release they want to be able to state the correct amount of cash on hand after the sale and after the court ruling. As well as guidance based on the operations less the unit that was sold. Or a sale of the entire company is in talks. We can not remember a company that made such an announcement the day of. They make it well before the earnings date.
Shanghai Pudong Science and Technology May Buy Marvell Technology
Jul 13 15
Shanghai Pudong Science and Technology Investment Co., Ltd. is interested to buy shares of Marvell Technology Group Ltd. (NasdaqGS:MRVL) in a go private deal, according to a source. The talks are in early stages and both parties will meet this week, source said.
We do not think Avago would buy Marvel less than 2 months after buying Broadcom. But if you scour the news from around early July you see there is an Asian company that was going to have talks with MRVL about taking the company private. We think this is a real more likely to happen event.