SAN DIEGO, Jan. 13, 2025 (GLOBE NEWSWIRE) — Robbins LLP informs investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Micron Technology, Inc. (NASDAQ: MU) securities between September 28, 2023 and December 18, 2024. Micron designs, develops, manufactures, and sells memory and storage products, including, inter alia, dynamic random access memory (“DRAM”), NAND, NOR, and high-bandwidth memory (“HBM”) semiconductor devices.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Micron Technology, Inc. (MU) Failed to Disclose Decreased Demand for its Products.
According to the complaint, during the class period, defendants failed to disclose that: (i) demand for Micron’s products in consumer markets, especially the Company’s NAND products, had significantly deteriorated; (ii) 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 (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
The complaint alleges that on December 18, 2024, Micron announced disappointing financial results for the first quarter of its fiscal year 2025, reporting greater-than-expected revenue decline in NAND flash memory for the quarter. Micron also issued disappointing guidance for the second quarter of its fiscal year 2025. On this news, multiple analysts lowered their price targets for Micron stock and Micron’s stock price fell $16.18 per share to close at $87.09 per share on December 19, 2024.
What Now: You may be eligible to participate in the class action against Micron Technology, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by March 10, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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