Micron Technology(MU) GlobeNewswire News Room·2025-02-19 02:02Core Viewpoint - A class action has been filed against Micron Technology, Inc. for failing to disclose decreased demand for its products, particularly in the NAND segment, during the specified class period [1][2]. Group 1: Allegations - The complaint alleges that Micron did not disclose significant deterioration in demand for its products in consumer markets, especially NAND products [2]. - It is claimed that Micron overstated the recovery and sustainability of demand for its products, leading to materially false and misleading public statements [2]. - The lawsuit highlights that the company's public disclosures did not accurately reflect the inventory normalization and demand trends for its products [2]. Group 2: Financial Impact - On December 18, 2024, Micron reported disappointing financial results for Q1 of fiscal year 2025, with a greater-than-expected revenue decline in NAND flash memory [3]. - Following the announcement, analysts lowered their price targets for Micron stock, resulting in a stock price drop of 87.09 on December 19, 2024 [3]. Group 3: Class Action Participation - Shareholders interested in serving as lead plaintiffs must submit their applications by March 10, 2025, to represent other class members in the litigation [4]. - Shareholders can remain absent class members and still be eligible for recovery without participating in the case [4].