I had one, while I was in the service in the early-mid 60's.
Marlin called the actions "Levermatic", because they could argueably be cycled as fast as an automatic.
The lever was a short-stroke, meaning you kept your hand on the grip and just flexed the fingers to operate the lever. Mine had a tube mag, and remember it giving only so-so accuracy at the time - but I was only a newbie shooter then, and not as good as I am today.
Being newly married at the time, with a baby on the way, I didn't keep it very long.
The design/styling (one-piece stock, etc, etc) was light-years ahead of the time, and since most buyers of that time were traditionalists, they didn't sell well, and were discontinued.
A similar-looking rifle, the Winchester 88, wasn't tried for another 6-8 years after that, and it too was eventually discontinued.
Maybe this'll help:
http://www.leverguns.com/articles/malloy.htmFor a lot more, google: levermatic rifles