According to the Complaint, Aquantia Corp. is a leader in the design, development, and marketing of advanced, high speed communications ICs for Ethernet connectivity in the Data Center, Enterprise Infrastructure, Access, and Automotive markets.

This action stems from a proposed transaction announced on May 6, 2019, pursuant to which Aquantia Corp. will
be acquired by Marvell Technology Group Ltd.

On May 6, 2019, Aquantia’s Board of Directors caused the Company to enter into an agreement and plan of merger with Marvell. Pursuant to the terms of the Merger Agreement, Aquantia’s stockholders will receive $13.25 in cash for each share of Aquantia common stock they own.

On May 29, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.