LOS ANGELES, March 28, 2006 (PRIMEZONE) -- Glancy Binkow & Goldberg LLP -- representing shareholders of Micron Technology, Inc. -- announces 28 days remaining to move to be a lead plaintiff in the shareholder lawsuit. All persons and institutions who purchased securities of Micron Technology, Inc. ("Micron" or the "Company") (NYSE:MU) between February 24, 2001 and February 13, 2003 (the "Class Period"), may move the Court not later than April 25, 2006, to serve as lead plaintiff, however, you must meet certain legal requirements.
If you wish to receive a copy of the Complaint, or have any questions concerning your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, or e-mail to info@glancylaw.com, or visit our website at www.glancylaw.com.
The Complaint charges Micron and certain of the Company's executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and dissemination of materially false and misleading statements concerning Micron's business and operations caused the Company's stock price to become artificially inflated, inflicting damages on investors. Micron manufactures and markets semiconductor devices worldwide, including a series of Dynamic Random Access Memory ("DRAM") products, which provide data storage and retrieval. The Complaint alleges that during the Class Period defendants knew or recklessly disregarded, but failed to disclose to the investing public that: (a) Micron engaged in illegal anti-competitive behavior to suppress and eliminate competition by fixing the prices of DRAM sold to original equipment manufacturers in violation of sec. 1 of the Sherman Antitrust Act; (b) Micron's financial results throughout the Class Period were materially inflated as a direct result of the Company's illegal price-fixing; and (c) the Company's financial projections during the Class Period lacked a reasonable basis because they were issued while the Company involved itself in illegal price-fixing activities.
The Complaint further alleges that, as a result of defendants' false and misleading statements during the Class Period, Micron shares traded at inflated prices, enabling the Company to issue more than $632 million worth of debt during 2003, sell over $480 million worth of warrants, and complete numerous stock-for-stock acquisitions. Additionally during the Class Period, Company insiders sold approximately $4.5 million worth of their personally held Micron shares at artificially inflated prices.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting shareholder lawsuits, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than April 25, 2006, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.