Dec. 17, 2012 (Shareholders Foundation) -- An investigation on behalf of current long term stockholders in shares of Micron Technology, Inc. (NASDAQ:MU) was announced concerning potential breaches of fiduciary duties by certain directors of Micron Technology, Inc. in connection with the 2004 Equity Incentive Plan.

The investigation by a law firm concerns whether certain directors of Micron Technology, Inc. (NASDAQ:MU potentially breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an Amended and Restated 2004 Equity Incentive Plan.

In the Proxy Statement filed by Micron Technology, Inc. with the Securities and Exchange Commission (SEC) the Board of Directors recommends that Microns shareholders vote to approve the Amended and Restated 2004 Equity Incentive Plan, which would increase the shares reserved for issuance by 30,000,000.

According to the investigation the issuance of the additional shares could have a substantial dilutive effect on the shares of Micron Technology, Inc. common stock.

Micron Technology, Inc. (NASDAQ:MU) reported that its Total Revenue declined from over $8.78 billion for the 52 weeks period that ended on Sept. 1, 2011 to over $8.23 billion for the 52 weeks period that ended on Aug. 30, 2012.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded in early 2011 as high as over $11 per share.

The Total Compensation of certain top officials at Micron Technology, Inc. increased from 2011 to 2012. For instance, the CEOs pay rose from over $4.26 million in 2011 to over $6.16 million in 2012 and the former CEOs pay increased from over $8.64 million in 2011 to over $12.76 million in 2012