Micron Technology(MU) Prnewswire·2025-03-07 11:00Core Viewpoint - The Micron Technology, Inc. class action lawsuit alleges that the company and its executives made misleading statements regarding product demand and financial performance during the specified class period [1][3][4]. Group 1: Class Action Details - The class action lawsuit is titled Klein v. Micron Technology, Inc., and it allows purchasers of Micron common stock between September 28, 2023, and December 18, 2024, to seek appointment as lead plaintiff [1][5]. - The lawsuit claims that Micron's executives failed to disclose a significant deterioration in demand for its NAND products, leading to overstated recovery claims [3][4]. Group 2: Financial Performance - On December 18, 2024, Micron reported a greater-than-expected revenue decline in NAND flash memory and issued disappointing guidance for the second quarter of fiscal year 2025 [4]. - The guidance included adjusted earnings projected between 1.53 per share, below the 7.7 billion and 8.99 billion estimate [4]. Group 3: Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Micron common stock during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [5]. - The lead plaintiff can choose a law firm to represent the class, and participation as lead plaintiff does not affect the ability to share in any potential recovery [5]. Group 4: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud cases, having recovered 7.2 billion in the Enron case [6].