RADNOR, Pa., March 3 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:
Notice is hereby given that a class action lawsuit was filed in the United States District Court for the District of Idaho on behalf of all securities purchasers of Micron Technology Inc. ("Micron" or the "Company") between February 24, 2001 and February 13, 2003, inclusive (the "Class Period").
If you wish to discuss this action or have any questions concerning this notice, your rights, or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at
The complaint charges Micron, Wilbur G. Stover, Jr., Steven R. Appleton, and Michael W. Sadler with violations of the Securities Exchange Act of 1934. Micron engages in the manufacture and marketing of semiconductor devices worldwide. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that Micron engaged in illegal anti-competitive behavior to suppress and eliminate competition by fixing the prices of DRAM sold to OEMs in violation of Section 1 of the Sherman Antitrust Act; (2) that Micron's financial results throughout the Class Period were materially inflated as a direct result of the price- fixing conspiracy due to the Company's illegal behavior of price-fixing; and (3) that the Company's financial projections during the Class Period lacked a reasonable basis because they were issued while the Company involved itself in an illegal price-fixing scheme.
While the Company engaged in an illegal price-fixing scheme, Company insiders sold 132,000 shares for gross proceeds of $4,536,000. Additionally, during the Class Period, the Company issued more than $632 million worth of debt and sold over $480 million worth of warrants and completed numerous stock-for-stock acquisitions.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com/.
If you are a member of the class described above, you may, not later than April 25, 2006, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin & Barroway, or other counsel of your choice, to serve as your counsel in this action.
CONTACT: Schiffrin & Barroway, LLP
Darren J. Check, Esquire
Richard A. Maniskas, Esquire
280 King of Prussia Road
Radnor, PA 19087
1-800-299-7706 (toll-free) or 1-610-667-7706
Or by e-mail at
