Micron Defeats Investors’ Semiconductor Chip Demand Lawsuit (1)

Micron Technology Inc. and two top executives beat shareholder allegations the chipmaker knowingly overstated demand prospects while its CEO planned to sell off nearly half of his shares.

Investors leading the case failed to sufficiently allege Micron or leaders acted with deliberate recklessness to defraud before releasing quarterly financial guidance short of analyst expectations, Judge B. Lynn Winmill said, dismissing the suit Tuesday. CEO Sanjay Mehrotra’s stock sales weren’t so unusual, given he sold less than half of his holdings and half of his sales occurred at a price after that of the alleged December 2024 stock drop, the US ...