Micron Shareholders v Micron Technology, Inc.
Micron Faces Another Lawsuit Involving Price Fixing
Micron Technology faces another class action lawsuit tied to alleged involvement in an supposed price-fixing scheme among memory chip makers between February 2001 and February 2003. The class action, which is the third of its kind involving price fixing, was filed on behalf of Micron shareholders in U.S. District Court in Idaho against Micron and certain of its officers and directors. The complaint alleges that Micron was engaged in a scheme to manipulate the price of DRAM between Feb. 24, 2001 and Feb. 13, 2003.
Specifically, the complaint alleges that during the this period, defendants falsified the company's public statements and financial reporting by concealing the material adverse facts, including its involved in a DRAM price-fixing scheme.
This is at least the third class action suit to be brought against Micron in connection with the alleged DRAM price-fixing scheme, an issue that the U.S. Department of Justice has been investigating for more than two years.
