March 8, 2019 - The court dismissed the case.
April 30, 2014 - The court granted in part and denied in part a particular defendant's motion to dismiss.

August 5, 2013 - The court granted in part and denied in part defendants' motion to dismiss.

November 20, 2012 - Defendants filed a motion to dismiss.

October 29, 2012 - The lead plaintiff filed another amended consolidated complaint.

October 22, 2012 - The court vacated its judgement and granted lead plaintiff leave to file another amended complaint.

March 20, 2012 - The court granted defendants' motion to dismiss and dismissed the case with prejudice.

September 20, 2011 - Defendants filed a motion to dismiss.

July 22, 2011 - The lead plaintiff filed an amended consolidated complaint.

June 7, 2011 - Another investor filed a complaint.

June 7, 2011 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

April 19, 2011 - Lead plaintiff motion was filed.

March 17, 2011 - Another investor filed a complaint.

February 18, 2011 - An investor in Best Buy Co Inc (NYSE: BBY) filed a lawsuit in the U.S. District Court for the District of Minnesota against Best Buy Co Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between September 14, 2010 and December 13, 2010.

According to the complaint the plaintiff alleges only on behalf of purchasers of Best Buy Co Inc (NYSE: BBY) common stock during the period between September 14, 2010 and December 13, 2010, that Best Buy Co Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 issuing between September 14, 2010 and December 13, 2010 false and misleading statements concerning demand for its consumer electronics product offerings and the Best Buy Co Inc’s true financial condition.

Best Buy Co Inc reported an increase in its 52/53 week Total Revenue of almost 40% from from $35.934 billion reported on March 3, 2007 to $49.694 billion reported on Feb 27, 2010. However, its Net Income decreased over the same time frame from $1.377 billion to $1.317 billion.

On December 14, 2010, Best Buy Co Inc reported its third quarter 2011 financial results. According to the complaint, Best Buy Co Inc reported that as product sales it knew to be weak or declining even as early as June 2010 had continued across the board, it had missed Wall Street revenue expectations by a wide margin, reporting $0.54 per share, compared to Wall Street consensus estimates of $0.61.

In addition, as a result of weak sales demand and despite the increased FY 2011 earnings forecast in September 2010, Best Buy Co Inc reduced its FY 2011 earnings forecast of $3.55-$3.70 to $3.20-$3.40 – well below even the initial FY 2011 earnings forecasts set in March 2010. Finally, Best Buy Co Inc disclosed that it had repurchased 11 million shares in the quarter, for a total of more than 31 million shares repurchased during the first three quarters of FY 2011, which would have a $0.12 per share positive impact on the reduced FY 2011 EPS forecast of $3.20-$3.40, so the lawsuit. Shares of Best Buy Co Inc traded during 2006 as high as $58.32 per share and fell in 2008 to as low as $17.63 per share. Since then BBY shares increased in April 2010 to $48.58 per share. The plaintiff claims that on this news there was an immediate and massive sell off of Best Buy Co Inc’s shares (NYSE: BBY) on December 14, 2010, and a stock price decline of 22% from a high of $45.63 per share between September 14, 2010 and December 13, 2010 to close at $35.52 per share on December 14, 2010. Recently Best Buy Co Inc (NYSE: BBY) shares traded at $33.04 per share.