Micron Technology, Inc. (NASDAQ: MU) Investor Securities Class Action Lawsuit 01/23/2019

If you purchased a significant amount of shares of Micron Technology, Inc. (NASDAQ: MU) between June 22, 2018 and November 19, 2018, and / or if you purchased any NASDAQ: MU shares prior to June 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 25, 2019. NASDAQ: MU investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Micron Technology
Case Name: 
Micron Technology Shareholder Class Action Lawsuit 01/23/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: MU
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/23/2019
Class Period Begin: 
06/22/2018
Class Period End: 
11/19/2018
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
03/25/2019
Summary: 

An investor in shares of Micron Technology, Inc. (NASDAQ: MU) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Micron Technology, Inc. in connection with certain allegedly false and misleading statements made between June 22, 2018 and November 19, 2018.

Boise, ID based Micron Technology, Inc. manufactures and sells memory and storage solutions worldwide. Micron Technology, Inc. reported that its Total Revenue rose from over $20.32 billion for the 12 months period that ended on August 31, 2017 to over $30.39 billion for the 12 months period that ended on August 30, 2018 and that its Net Income over those time periods increased from over $5.08 billion to over $14.13 billion.

On November 19, 2018, the Financial Times stated that the Chinese government found “massive evidence” of anti-competitive behavior by Micron Technology and two additional companies.

Shares of Micron Technology, Inc. (NASDAQ: MU) declined to $29.00 per share on December 24, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Micron Technology, Inc. (NASDAQ: MU) common shares between June 22, 2018 and November 19, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 22, 2018 and November 19, 2018, the defendants made false and/or misleading statements and/or failed to disclose that the Chinese State Administration for Market Regulation notified Micron it was investigating dynamic random-access memory (“DRAM”) chip providers in China for potential collusion and other anti-competitive conduct, that Chinese investigators had found “massive evidence” of Micron’s anti-competitive behavior, that Micron had engaged in a price-fixing conspiracy with Samsung Electronics and SK Hynix, and that as a result, Micron’s public statements were materially false and misleading at all relevant times.