Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Micron Technology, Inc. (“Micron”) (NASDAQ: MU) common stock between March 29, 2023 and 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 Micron’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 its 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, Micron’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On February 3, 2026, the Court granted Defendants’ Motion to Dismiss and allowed Lead Plaintiffs 30 days to file an Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions, 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.