Micron Technology, Inc.

On November 19, 2018, the Financial Times reported that Chinese investigators found “massive evidence” of anti-competitive behavior by Micron and two other companies. On this news, Micron’s share price fell $2.61 per share, nearly 7%, to close at $36.83 per share on November 19, 2018, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company engaged in anti-competitive behavior, including artificially restricting supply growth of DRAM; (2) that these anti-competitive efforts were reasonably likely to lead to regulatory scrutiny; (3) that the Company’s anti-competitive efforts artificially boosted its operating metrics; (4) that, as a result, the Company’s financial performance, including revenue, was overstated; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.