NEW YORK, March 11, 2019 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds investors in Micron Technology, Inc. ("Micron" or the "Company")
(NASDAQ: MU) of the March 25, 2019 deadline to seek the role of lead plaintiff in a federal
securities class action that has been filed against the Company.
If you invested in Micron stock or options between June 22, 2018 through November 19, 2018 and would like to discuss your legal rights, click
here: www.faruqilaw.com/MU. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of New York
on behalf of all those who purchased Micron securities June 22, 2018 through November 19, 2018 (the "Class Period"). The case, Kniffin v. Micron Technology, Inc., et al., No.
19-cv-00678 was filed on January 23, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or
misleading statements and/or failed to disclose that: (1) 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; (2) Chinese investigators had found "massive evidence" of Micron's anti-competitive
behavior; (3) Micron had engaged in a price-fixing conspiracy with Samsung Electronics and SK Hynix; and (4) as a result,
Micron's public statements were materially false and misleading at all relevant times. When the true details entered the market,
the lawsuit claims that investors suffered damages.
Specifically, on November 18, 2018, the Financial Times published an article while Micron had
revealed the investigation, that the Company had failed to disclose that it had actually engaged in anti-competitive behavior
that the Chinese Government had found "massive evidence of."
After the announcement, Micron's share price fell from $39.44 per share on November 16, 2018 to a closing price of $36.83 on November
19, 2018—a $2.61 or a 6.617% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who
is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of
the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Micron's conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome
with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated
in a confidential manner.
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