MU - Micron rises as it reaches deal with DOJ on immigration issues

April, 20 2023 11:39 AM Micron Technology Inc.

2023-04-20 11:39:45 ET

Micron Technology ( NASDAQ: MU ) shares rose nearly 1% in early trading on Thursday as the memory chip maker reached a deal with the Department of Justice over a claim that it violated law by discriminating against a U.S. citizen.
In a statement , the DOJ said Micron ( MU ) violated the Immigration and Nationality Act when it hired a temporary visa worker instead of the citizen.
As a result of the settlement, Micron ( MU ) has agreed to pay a civil penalty to the U.S. and back pay totaling $85,000 to the affected worker.
The company will also implement training on the INA's anti-discrimination provision, change its policies and be subject to monitoring by the DOJ for two years.
"Companies cannot unlawfully discriminate against a job applicant because they prefer to hire someone with a different citizenship or immigration status," said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division in the release.
Earlier this month, Micron ( MU ) shares surged after Samsung announced it would cut memory production by a significant amount .

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