Micron Technology(MU) Prnewswire·2025-01-11 01:44Financial Performance and Market Reaction - Micron announced disappointing financial results for Q1 FY2025, reporting a greater-than-expected revenue decline in NAND flash memory [1] - The company issued disappointing guidance for Q2 FY2025, leading to a 87.09 on December 19, 2024 [1] - Multiple analysts lowered their price targets for Micron stock following the announcement [1] Class Action Allegations - A class action lawsuit was filed on behalf of shareholders who purchased Micron securities between September 28, 2023, and December 18, 2024 [3] - The complaint alleges that Micron failed to disclose decreased demand for its products, particularly in consumer markets and for NAND products [4] - Defendants are accused of overstating the recovery and sustainability of demand for Micron's products, as well as the normalization of inventory [4] Company Overview - Micron designs, develops, manufactures, and sells memory and storage products, including DRAM, NAND, NOR, and high-bandwidth memory semiconductor devices [3] Shareholder Participation - Shareholders may be eligible to participate in the class action against Micron, with a deadline of March 10, 2025, to submit applications for lead plaintiff [2] - Shareholders can remain absent class members and still be eligible for recovery without participating in the case [2]