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Actionable news in MRVL: Marvell Technology Group Ltd.,

Marvell hiring of conflicted audit firm under SEC scrutiny

Marvell Technology Group just appointed a new auditor, but that appointment — and several accounting and controls issues — continue to be scrutinized by regulators.

Marvell Technology Group Ltd. is being investigated by the Securities and Exchange Commission for picking an audit firm that already had provided prohibited services to it.

Marvell announced on Feb. 23 that the company had picked Deloitte as its new audit firm. However, Deloitte has provided nonaudit services to the company that are prohibited by the Sarbanes-Oxley Act of 2002. The services — payroll services in France and internal-audit services in India — have been concluded for the most recent period, according to the filing. Marvell and Deloitte...