| COMPANY |
Micron Technology, Inc. |
| COURT |
United States District Court for the District of Idaho |
| CASE NUMBER |
25-cv-191 |
| JUDGE |
The Honorable B. Lynn Winmill |
| CLASS PERIOD |
March 29, 2023 through December 18, 2024 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a securities fraud class action lawsuit filed on behalf of those who purchased or otherwise acquired Micron Technology, Inc. (“Micron”) (NASDAQ: MU) common stock between March 29, 2023 through December 18, 2024, inclusive (the “Class Period”).
The Class Period begins on March 29, 2023, the day after Micron announced during its Q2 2023 earning call that “customer inventories have reduced in several end markets, and we see gradually improving supply-demand balance in the months ahead. Excluding the impact of inventory write-downs, we believe our balance sheet DIO [Days Inventory Outstanding] has peaked in fiscal Q2, and we are close to our transition to sequential revenue growth in our quarterly results…[w]hile our industry faces significant near-term challenges, we believe that the memory and storage TAM [Total Addressable Market] will grow to a new record in calendar 2025 and will continue to outpace the growth of the semiconductor industry thereafter.” This stance was inconsistent with industrywide predictions.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) demand for Micron's products in consumer markets, especially the company's NAND products, had significantly deteriorated; (2) accordingly, Defendants had overstated the extent to which demand for Micron's products had recovered, particularly in consumer markets and for its NAND products, and/or had overstated the sustainability of demand for such products, as well as the normalization of inventory for such products; and (3) as a result, the company's public statements were materially false and misleading at all relevant times.
Current Status of Case:
Defendants filed the Motion to Dismiss the Amended Complaint on July 9, 2025. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.