SAN DIEGO & BOISE, Idaho--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Micron Technology, Inc. (NasdaqGS: MU) filed a class action complaint against the company for alleged violations of the Securities and Exchange Act of 1934 between June 22, 2018 and November 19, 2018. Micron manufactures and sells memory and storage solutions worldwide.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/micron-technology-inc/
Micron Accused of Engaging in Price-Fixing Conspiracy
According to the complaint, on May 15, 2018, the Chinese State Administration for Market Regulation ("SAMR") notified Micron that it was investigating potential collusion and other anticompetitive conduct by dynamic random-access memory ("DRAM") suppliers in China. Micron disclosed only limited information about the SAMR investigation on October 15, 2018. On November 19, 2018, the Financial Times reported that investigators in China had found "massive evidence" of anticompetitive behavior by the world's top three makers of computer memory chips - Micron, Samsung Electronics, and SK Hynix. The article further revealed that Beijing could impose fines of more than $2.5bn on each of the three chipmakers if they are found to have fixed prices. On this news, Micron's stock fell nearly 7% to close at $36.83 per share on November 19, 2018.
Micron Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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