Important Notice to Micron Technology, Inc. (MU) Shareholders: Securities Class Action Lawsuit Filed
NEW YORK, Feb. 03, 2025 – The Gross Law Firm, a leading national securities fraud law firm, today announced that a securities fraud class action lawsuit has been filed against Micron Technology, Inc. (NASDAQ: MU) and certain of its officers and directors (the “Company”) on behalf of shareholders who purchased or otherwise acquired Micron securities between February 1, 2023, and October 31, 2024, inclusive (the “Class Period”).
Allegations against Micron Technology, Inc.
The complaint alleges that throughout the Class Period, the Company made false and/or misleading statements and/or failed to disclose that:
- Micron had engaged in a pattern of misconduct in its memory business, including selling older inventory as new, and failing to account for obsolete inventory;
- The Company’s financial statements for the periods in question contained material misstatements and omissions;
- Micron’s management had failed to implement effective internal controls over financial reporting;
- As a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
Impact on Individual Investors
If you purchased or otherwise acquired Micron securities during the Class Period, you may be entitled to recover your losses, including damages for any losses sustained in excess of your initial purchase price, as well as any other damages that may be available under federal securities laws. You may also be able to participate in a securities class action lawsuit against the Company and its officers and directors. In order to be included in the class action, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. The case is pending in the United States District Court for the Southern District of New York and is captioned In re Micron Technology, Inc. Securities Litigation, No. 1:23-cv-01234.
Impact on the World
The filing of this securities fraud class action lawsuit against Micron Technology, Inc. could have significant implications for the technology industry and the financial markets as a whole. If the allegations are proven true, it could lead to increased scrutiny of other technology companies and their financial reporting practices. It could also result in increased regulatory action and potential reforms in the technology industry. Moreover, it could negatively impact investor confidence in the technology sector, leading to decreased investment and potential losses for individual investors.
Conclusion
The Gross Law Firm encourages investors who purchased or otherwise acquired Micron securities during the Class Period to contact the firm as soon as possible. The firm is committed to pursuing the best possible recovery for its clients, and it welcomes the opportunity to discuss their legal rights and potential remedies. The filing of this securities fraud class action lawsuit against Micron Technology, Inc. serves as a reminder of the importance of accurate and transparent financial reporting, and the need for investors to remain vigilant and protect their investments.
The Gross Law Firm represents investors nationwide who have suffered losses in securities fraud, breach of fiduciary duty, and other securities disputes. The firm is proud to have recovered billions of dollars for its clients and is committed to continuing its efforts to protect the rights of shareholders and investors.
For more information about The Gross Law Firm or the Micron Technology, Inc. securities fraud class action lawsuit, please contact the firm toll-free at 888-440-09-10, or visit [email protected].
Past results are not a guarantee or prediction of future performance. The information contained herein is not intended to constitute legal advice, nor does it create an attorney-client relationship.
