Micron Technology Inc Securities Lawsuit Investigation

Shamis & Gentile P.A., a law firm that advocates for investors who are victims of securities fraud, is investigating potential claims against Micron Technology, Inc. (MU)

If you purchased Micron Technology, Inc. (NASDAQ: MU) prior to December 18, 2024, and still hold some shares today, you can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at absolutely no cost to you.

About Micron Technology

Micron Technology is incorporated in Delaware with principal executive offices in Boise, Idaho. The company designs, manufactures, and sells memory and storage products, including DRAM, NAND, and NOR technologies, under the Micron and Crucial brands.

Its products serve a range of markets, such as data center, client, mobile, automotive, and industrial sectors.

What's Being Investigated

Investors allege that Micron Technology and certain officers and directors may have made misleading statements or omitted material facts regarding the recovery and sustainability of consumer-market demand; particularly for NAND memory products, and the normalization of inventory levels.

According to a class action complaint, these alleged misstatements may have occurred between September 28, 2023, and December 18, 2024.

The investigation focuses on whether Micron’s public statements about consumer demand and inventory normalization were consistent with internal data and whether the company’s disclosure controls and board oversight were adequate during the period in question.

Key Timeline

• September 28, 2023: Start of the alleged class period. Investors allege that from this date, public statements may have overstated the recovery and sustainability of consumer demand and inventory normalization.
• October 6, 2023: According to the class action complaint, Micron assures investors of "ongoing growth demand" and expectations of "increased revenue" throughout 2024 in its SEC 10-K filing. Plaintiffs allege that these statements were materially false and misleading.
• October 4, 2024: Micron assured investors of "Increasing demand growth, driven in part by deployment of AI and mostly normal customer inventories, combined with industry-wide supply discipline, resulted in an industry supply and demand balance that substantially improved from 2023 conditions." Investors also allege that these statements were misleading to shareholders.
• December 18, 2024: Micron issued guidance citing "While consumer-oriented markets are weaker in the near term, we anticipate a return to growth in the second half of our fiscal year," which reportedly led to a sharp share-price decline. Investors argue this event revealed prior overstatements.

Why Investors May Be Concerned

Stockholders contend that Micron may have overstated the strength of consumer demand and the normalization of inventory, particularly in its NAND business, during the class period.

The class action complaint alleges that internal reports may have contradicted public statements, raising questions about the adequacy of disclosure controls and board oversight.

Allegations asserted in the class action complaint include:

• Alleged misleading statements or omissions about demand recovery and inventory normalization.
• Possible failures in internal controls or board-level oversight of mission-critical risks.
• Questions about whether board committees, especially the Audit Committee, adequately monitored red flags or contradictory internal data.

Your Rights and Next Steps

This investigation concerns potential breaches of fiduciary duty, disclosure issues, and oversight failures at Micron Technology. If you owned Micron stock during the alleged class period (September 28, 2023 to December 18, 2024), you may have rights as a shareholder.

Potential next steps:

• Derivative action rights: As a stockholder, you may be able to bring a derivative action on behalf of Micron if you held shares during the relevant period and continue to hold them. This may include seeking monetary recovery for the company or governance reforms.
• Section 220 books-and-records requests: Delaware law allows shareholders to inspect certain company records to investigate possible wrongdoing. This is often a first step before filing a derivative lawsuit.

You May Be Entitled to Compensation

Securities investigations are time-sensitive. If you purchased or held Micron Technology securities and suffered losses during the class period, you may be eligible to join this investigation and seek recovery on behalf of yourself or the company.

To protect your rights, complete the form below to join the investigation.