SAN DIEGO, July 09, 2024 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in The Scotts Miracle-Gro Company (NYSE: SMG) shares. The lawsuit seeks to recover losses for certain investors in NYSE: SMG shares. Those who purchased shares of The Scotts Miracle-Gro Company (NYSE: SMG) should contact the Shareholders Foundation, Inc. On June 06, 2024, an investor in NYSE: SMG shares filed a lawsuit against of The Scotts Miracle-Gro Company over alleged ...

NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of The Scotts Miracle-Gro Company (NYSE: SMG). Shareholders who purchased shares of SMG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/the-scotts-miracle-gro-company-loss-submission-form/? id=89669&from=3 C ...

CONTACT US HERE: ALLEGATIONS: According to the filed complaint, defendants made false statements and/or concealed that Scotts had an oversupply of inventory that far exceeded consumer demand. Recognizing that problem, Scotts executives engaged in a scheme to saturate the Company's sales channel with more product than those retailers could sell through to end users, a practice that required Scotts sales personnel to pressure retailers to purchase more inventory than they wanted or needed. Ultimately, Scotts ...

NEW YORK, June 28, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of The Scotts Miracle-Gro Company (NYSE: SMG) between November 3, 2021 and August 1, 2023, both dates inclusive (the "Class Period"), of the important August 5, 2024 lead plaintiff deadline. SO WHAT: If you purchased Scotts common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arr ...

Investors can contact the law firm at no cost to learn more about recovering their losses Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recover their losses. When investors learned the truth, Scotts' common stock declined precipitousl ...

Shareholders who purchased shares of SMG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CLASS PERIOD: November 3, 2021 to August 1, 2023 NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of SMG during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the li ...

Core Viewpoint - The Scotts Miracle-Gro Company is facing a class action lawsuit due to alleged misleading statements and undisclosed adverse facts regarding its business operations and financial performance during the specified Class Period from November 3, 2021, to August 1, 2023 [1][3]. Financial Performance - In May 2022, Scotts reported that replenishment orders from U.S. retailers were over $300 million below target, leading to a significant reduction in full-year earnings guidance to approximately half of prior expectations [2]. - On August 2, 2023, Scotts disclosed a 6% decline in quarterly sales for its fiscal third quarter and a 420 basis point drop in gross margins, alongside a 25% reduction in fiscal year EBITDA guidance and a $20 million write-down of excess inventories [2]. Allegations in Class Action - The class action complaint alleges that Scotts had an oversupply of inventory that exceeded consumer demand and that executives engaged in practices to pressure retailers into purchasing more inventory than needed [3]. - It is claimed that the company relied on a "channel stuffing" scheme to meet debt covenants, which misled investors regarding the company's true business health [3]. Stock Price Impact - Following the May 2022 announcement, Scotts' stock price fell by $9.05, or 8.9%, closing at $93.13 per share [6]. - After the August 2023 financial disclosure, the stock price dropped by $13.58, or 19%, closing at $57.86 per share [7].

Core Viewpoint - A class action securities lawsuit has been filed against The Scotts Miracle-Gro Company, alleging securities fraud related to inventory oversupply and deceptive sales practices from November 3, 2021, to August 1, 2023 [1][4]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for Scotts investors who were negatively impacted by the alleged fraud during the specified period [1]. - Investors have until August 5, 2024, to request to be appointed as lead plaintiff, although participation in any recovery does not require this role [2]. - The complaint claims that Scotts executives engaged in a scheme to pressure retailers into purchasing excess inventory, leading to a significant oversupply that exceeded consumer demand [5]. Group 2: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [3]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, highlighting its expertise in complex securities litigation [3]. Group 3: Cost Implications - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating a no-cost participation model for affected investors [6].

Core Viewpoint - Rosen Law Firm is reminding purchasers of common stock of The Scotts Miracle-Gro Company about the upcoming lead plaintiff deadline for a class action lawsuit related to alleged misrepresentations during the Class Period from November 3, 2021, to August 1, 2023 [1]. Group 1: Class Action Details - Investors who purchased Scotts common stock during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by submitting a form or contacting the law firm [3][5]. - The deadline to move the Court to serve as lead plaintiff is August 5, 2024, with the lead plaintiff acting on behalf of other class members [3]. Group 2: Allegations Against Scotts - The lawsuit alleges that throughout the Class Period, Scotts made materially false and misleading statements regarding its inventory levels, debt covenant compliance, and overall financial performance [4]. - Defendants assured investors that inventory levels were appropriate and attributed strong sales to "selling through high-cost inventory," which led to inflated stock prices during the Class Period [4]. - The lawsuit claims that when the true details about Scotts' financial situation became known, investors suffered damages due to the previously inflated stock prices [4].

Core Viewpoint - The Scotts Miracle-Gro Company (SMG) is facing allegations of misleading investors regarding its business prospects, particularly related to inventory management and financial performance [1][2]. Financial Performance - For the fiscal year 2023 third quarter ended July 1, 2023, Scotts reported a 6% decline in quarterly sales and a 420 basis points drop in gross margins [2]. - The company amended its debt covenants, increasing the permitted debt-to-EBITDA ratio from 6.25 times to 7.00 times [2]. - Scotts slashed its fiscal year EBITDA guidance by 25% and took a $20 million write-down for excess inventories attributed to pandemic-related issues [2]. - Following the announcement, Scotts' stock price fell by $13.58 per share, or 19%, from $71.44 on August 1, 2023, to $57.86 on August 2, 2023 [2]. Legal Actions - A class action lawsuit has been filed on behalf of shareholders who purchased Scotts common stock between November 3, 2021, and August 1, 2023 [6]. - Shareholders interested in serving as lead plaintiffs must file motions by August 2, 2024 [3].