Lawsuit Overview
Settlement Overview
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November 2010 - If you purchased Micron Technology, Inc. (“Micron”) publicly-traded securities on the open market between February 24, 2001 and September 18, 2002, inclusive, you could get a payment from a class action settlement. A settlement fund has been established in the amount of $42,000,000 in cash. Your recovery will depend on the number of shares purchased and the timing of your purchases and any sales. The Court will hold a fairness hearing on February 2, 2011, in Boise, Idaho. At this hearing the Court will consider whether the settlement is fair, reasonable, and adequate.
February 2006 - A complaint that was filed that charges Micron and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Micron manufactures and markets semiconductor devices worldwide. Specifically, the complaint alleges that at the start of the Class Period, Micron and its employees (along with others in its industry) were engaged in a scheme to manipulate the price of dynamic random access memory, a type of computer memory semiconductor chip, commonly known as DRAM. Specifically, the complaint alleges that during the Class Period, defendants falsified the Company's public statements and financial reporting by concealing the following material adverse facts from the investing public: (a) that Micron and its co-conspirators had entered into and engaged in a combination and conspiracy in the United States and elsewhere to suppress and eliminate competition by fixing the prices of DRAM to be sold to certain original equipment manufacturers of personal computers and servers; (b) that Micron's publicly reported sales and earnings had been improperly inflated due to illegal price-fixing activities during the Class Period; and (c) that as a result of defendants' participation in the illegal price-fixing activities, Micron's sales and earnings reports and forward-looking price forecasts issued during the Class Period were false and misleading.