Micron Technology, Inc.

  • ISIN: US5951121038
  • Land: .

Nachricht vom 30.03.2012 | 03:18

Micron Technology Settles Lawsuit With Oracle

Micron Technology, Inc. 

30.03.2012 03:18

BOISE, Idaho, 2012-03-30 03:18 CEST (GLOBE NEWSWIRE) -- Micron Technology, Inc.
(Nasdaq:MU), announced today that it reached an agreement with Oracle America
Inc. ('Oracle') to settle a lawsuit filed by Oracle against Micron in the U.S.
District Court for the Northern District of California. The lawsuit alleged a
conspiracy to increase DRAM prices and other violations of federal and state
antitrust and unfair competition laws based on purported conduct for the period
from Aug. 1, 1998, through at least June 15, 2002, and sought joint and several
damages, trebled, as well as restitution, disgorgement, attorneys' fees, costs
and injunctive relief.  Pursuant to the settlement agreement, the parties
agreed to a settlement and release of all claims and a dismissal with prejudice
of the litigation. 

Under applicable accounting principles, the effect of this settlement on
Micron's results of operations for the second fiscal quarter of 2012 is a
reduction in revenue and an increase in the net loss attributable to Micron
shareholders of $58 million as compared to the results previously reported on
March 22, 2012, with corresponding adjustments to other items included in the
company's results of operations. As a result, for the second quarter of fiscal
2012, Micron's net loss attributable to its shareholders was $282 million, or
$0.29 per diluted share, on net sales of $2.009 billion. The full effect of the
settlement on Micron's results of operations and financial position for the
second quarter of fiscal 2012 will be provided in Micron's Form 10-Q. 

Micron Technology, Inc., is one of the world's leading providers of advanced
semiconductor solutions. Through its worldwide operations, Micron manufactures
and markets a full range of DRAM, NAND and NOR flash memory, as well as other
innovative memory technologies, packaging solutions and semiconductor systems
for use in leading-edge computing, consumer, networking, embedded and mobile
products. Micron's common stock is traded on the NASDAQ under the MU symbol. To
learn more about Micron Technology, Inc., visit www.micron.com. 

The Micron Technology, Inc. logo is available at

         CONTACT: Kipp A Bedard
         Investor Relations
         Daniel Francisco
         Micron Technology, Inc.
News Source: NASDAQ OMX

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Language:     English
Company:      Micron Technology, Inc.
              United States
ISIN:         US5951121038
End of Announcement                             DGAP News-Service

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