Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Micron Technology, Inc. (MU)

NEW YORK, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Micron Technology, Inc. (“Micron” or the “Company”) (NASDAQ: MU) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Micron between June 22, 2018 and November 19, 2018, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

The Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Chinese State Administration for Market Regulation notified Micron it was investigating dynamic random-access memory (“DRAM”) chip providers in China for potential collusion and other anti-competitive conduct; (2) Chinese investigators had found “massive evidence” of Micron’s anti-competitive behavior; (3) Micron had engaged in a price-fixing conspiracy with Samsung Electronics and SK Hynix; and (4) as a result, Micron’s public statements were materially false and misleading at all relevant times.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the March 25, 2019 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.