Crucial 2011 Annual Report Download - page 25

Securities Matters
On February 24, 2006, a putative class action complaint was filed against us and certain of our officers in the U.S. District Court for the
District of Idaho alleging claims under Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated
thereunder. Four substantially similar complaints subsequently were filed in the same Court. The cases purport to be brought on behalf of a class
of purchasers of our stock during the period February 24, 2001 to February 13, 2003. The five lawsuits have been consolidated and a consolidated
amended class action complaint was filed on July 24, 2006. The complaint generally alleges violations of federal securities laws based on, among
other things, claimed misstatements or omissions regarding alleged illegal price-fixing conduct or our operations and financial results. The
complaint seeks unspecified damages, interest, attorneys' fees, costs, and expenses. On December 19, 2007, the Court issued an order certifying
the class but reducing the class period to purchasers of our stock during the period from February 24, 2001 to September 18, 2002. On August 24,
2010, we executed a settlement agreement resolving these purported class-action cases. Subject to certain conditions, including final court
approval of the class settlement, we agreed to pay $6 million as our contribution to the settlement. On April 28, 2011, the Court entered final
approval of the class settlement.
Commercial Matters
On January 20, 2011, Dr. Michael Jaffé, administrator for Qimonda AG ("Qimonda") insolvency proceedings, filed suit against us and
Micron Semiconductor B.V., our Netherlands subsidiary, in the District Court of Munich, Civil Chamber. The complaint seeks to void under
Section 133 of the German Insolvency Act a share purchase agreement between us and Qimonda in fall 2008 pursuant to which we purchased all
of Qimonda's shares of Inotera Memories, Inc. and seeks an order requiring us to retransfer the Inotera shares to the Qimonda estate. The
complaint also seeks to terminate under Sections 103 or 133 of the German Insolvency Code a patent cross license between us and Qimonda
entered into at the same time as the share purchase agreement. A hearing is scheduled to begin on November 9, 2011. We are unable to predict the
outcome of this lawsuit. The final resolution of this lawsuit could result in the loss of the Inotera shares or equivalent monetary damages and the
termination of the patent cross license, which could have a material adverse effect on our business, results of operation or financial condition.
(See "Item 1A. Risk Factors.")
ITEM 4. (REMOVED AND RESERVED)
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