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MU.US
id: 1462
Micron Technology (MU) NAND Demand Misrepresentation Case
S.D. Florida
Court9:25-cv-80040
Case number09/28/2023
Class period Start12/18/2024
Class period End03/10/2025
Lead Plaintiff motion deadline- $MU investors filed a lawsuit against Micron Technology for misleading shareholders about NAND demand recovery and the financial outlook
- On December 18, 2024, Micron revealed worse-than-expected financial results, including a sharp revenue decline in NAND sales. Following this, $MU dropped by 16.18%.
Case details:
Between September 28, 2023, and December 18, 2024, Micron assured investors that demand for its memory and storage products, especially NAND, was bouncing back.
The company highlighted stable pricing, improving inventory levels for PCs and smartphones, and projected record revenues for fiscal year 2025, fueled by growth in AI applications.
However, on December 18, 2024, Micron reported a steeper-than-expected drop in revenue from NAND products and gave weak guidance for the next quarter. It admitted that consumer markets, like PCs and smartphones, were performing worse than expected.
After this announcement, several analysts downgraded Micron's stock, citing ongoing weakness in NAND demand and falling prices.
Following this, $MU dropped by 16.18%.
Based on these events, $MU investors filed a lawsuit against Micron Technology, claiming the company:
- It misled investors about the recovery of demand for NAND products and other consumer-focused markets.
- It overstated the strength of its financial outlook for fiscal year 2025.
Investors believe Micron misrepresented demand for its NAND products and financial prospects.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
12/18/2024
Filing date
01/09/2025
Lead Plaintiff Deadline
03/10/2025