#United States #New York #Class Action #Securities Fraud #Micron Technology

Levi & Korsinsky Files Class Action Lawsuit Against Micron Technology

On January 21, 2025, Levi & Korsinsky LLP announced the filing of a class action securities lawsuit on behalf of investors in Micron Technology, Inc. (NASDAQ: MU). This legal action targets individuals who experienced losses due to alleged securities fraud that took place between September 28, 2023, and December 18, 2024. The lawsuit aims to recuperate damages incurred by Micron shareholders during this period of purported misrepresentation by the company.

Allegations Against Micron

The core of the allegations revolves around assertions that Micron’s public statements regarding product demand and market performance were misleading. Specifically, the complaint claims that:
1. Deteriorating Demand for NAND Products: The demand for Micron's NAND products, essential for various technology applications, had been declining significantly, contradicting statements that the demand was recovering.
2. Overstated Recovery Claims: The lawsuits allege that Micron overstated the degree of recovery experienced in consumer markets for its products, especially NAND, creating an inaccurate picture for investors.
3. Misleading Public Statements: It is contended that the misleading statements made by Micron executives obscured the true nature of inventory normalization and market demand, leading to a false sense of security regarding the company’s financial health.

These assertions suggest that the company misled its investors about the sustainability of demand for its products.

The Next Steps for Affected Investors

For those who suffered financial losses during the specified timeframe, the lawsuit encourages potential class members to act quickly. Investors have until March 10, 2025, to request their appointment as lead plaintiff. Importantly, participation in the class action lawsuit does not require individual plaintiffs to front any legal fees, as costs are typically covered by the class action settlement if resolved favorably.

Levi & Korsinsky’s Track Record

Levi & Korsinsky has established a reputation over the last 20 years for securing substantial settlements for investors affected by corporate misconduct. The firm has consistently ranked among the top litigation firms in the United States for securities class actions, emphasizing their expertise with over 70 dedicated professionals serving in this field. Their commitment to defending shareholder rights has often yielded favorable outcomes for clients, contributing to their strong reputation in complex securities litigation.

Contact Information for Interested Parties

Investors wishing to learn more about this class action or to enroll can contact Joseph E. Levi, Esq. at the following:

• - Email: [email protected]
• - Phone: (212) 363-7500

Interested parties can also fill out an online submission form through Levi & Korsinsky’s website. This opportunity for participation comes without any costs for members of the class.

In conclusion, the escalating scrutiny over Micron’s business practices underscores the importance of investor vigilance and the willingness to seek recourse through legal channels when corporate transparency is called into question. This lawsuit not only aims to recover losses for shareholders but also emphasizes the ongoing need for accurate corporate communications and accountability in the marketplace.