Robbins Arroyo LLP: Micron Technology, Inc. (MU) Misled Shareholders According to a Recently Filed Class Action
January 25, 2019
SAN DIEGO & BOISE, Idaho–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24MU&src=ctag” target=”_blank”gt;$MUlt;/agt; lt;a href=”https://twitter.com/hashtag/ClassAction?src=hash” target=”_blank”gt;#ClassActionlt;/agt;–Shareholder rights law firm Robbins
Arroyo LLP announces that purchasers of Micron Technology, Inc.
(NasdaqGS: MU) filed a class action complaint against the company for
alleged violations of the Securities and Exchange Act of 1934 between
June 22, 2018 and November 19, 2018. Micron manufactures and sells
memory and storage solutions worldwide.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/micron-technology-inc/
Micron Accused of Engaging in Price-Fixing Conspiracy
According to the complaint, on May 15, 2018, the Chinese State
Administration for Market Regulation (“SAMR”) notified Micron that it
was investigating potential collusion and other anticompetitive conduct
by dynamic random-access memory (“DRAM”) suppliers in China. Micron
disclosed only limited information about the SAMR investigation on
October 15, 2018. On November 19, 2018, the Financial Times reported
that investigators in China had found “massive evidence” of
anticompetitive behavior by the world’s top three makers of computer
memory chips – Micron, Samsung Electronics, and SK Hynix. The article
further revealed that Beijing could impose fines of more than $2.5bn
on each of the three chipmakers if they are found to have fixed prices.
On this news, Micron’s stock fell nearly 7% to close at $36.83 per share
on November 19, 2018.
Micron Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contacts
Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
LKandinov@robbinsarroyo.com
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com