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 ...

LOS ANGELES, June 27, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming August 5, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired The Scotts Miracle-Gro Company ("Scotts" or the "Company") (NYSE: SMG) common stock between November 3, 2021, and August 1, 2023, inclusive (the "Class Period"). On June 8, 2022, Scotts announced that replenishment orders from its U.S. retailers were mor ...

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].

Core Viewpoint - A securities class action lawsuit has been filed against The Scotts Miracle-Gro Company, with a deadline for lead plaintiff applications set for August 5, 2024, for investors who purchased shares between November 3, 2021, and August 1, 2023 [1]. Group 1 - The lawsuit is based on allegations that Scotts and certain executives failed to disclose material information during the class period, violating federal securities laws [5]. - On August 2, 2023, Scotts reported disappointing financial results, including a 6% decline in quarterly sales for the fiscal third quarter, a 420 basis point drop in gross margin, a 25% cut to fiscal year EBITDA guidance, and a $20 million write-down of excess inventories due to the pandemic [3]. - Following the financial disclosure, Scotts' share price fell by $13.58, or 19%, from $71.44 on August 1, 2023, to $57.86 on August 2, 2023 [7]. Group 2 - ClaimsFiler serves as a resource for retail investors to recover funds from securities class action settlements, offering free registration for access to information and settlement websites [6]. - Investors can upload their portfolio transactional data to receive notifications about relevant securities cases and submit inquiries for free case evaluations [6].

Scotts Miracle-Gro Company - The company was highly leveraged during the Class Period, with a key covenant requiring a debt-to-EBITDA ratio under 6.25, which it failed to maintain [1][3] - Executives allegedly engaged in a scheme to inflate sales by saturating sales channels with excess inventory, allowing the company to book revenue from distributors [2][10] - On August 2, 2023, the company reported a 6% decline in quarterly sales and a 420 basis point drop in gross margins, while slashing fiscal year EBITDA guidance by 25% and taking a $20 million write down for excess inventories [3][11] - The company modified its debt covenants from a 6.25 to a 7.00 times debt-to-EBITDA ratio, leading to a significant decline in stock price [3][10] Gritstone bio, Inc. - In September 2023, the company entered a contract with BARDA to conduct a 10,000 participant Phase 2b study for its COVID-19 vaccine candidate, which would be fully funded by BARDA [5] - The launch of the Phase 2b study was delayed until Fall 2024 to ensure the use of GMP-grade raw materials, resulting in a 27.86% drop in stock price [6][14] - The company faced challenges in launching the study as anticipated, which affected its ability to secure external funding and maintain its financial position [14][15]

Core Viewpoint - A class action lawsuit has been filed against The Scotts Miracle-Gro Company for allegedly making materially false and misleading statements regarding its inventory levels, debt compliance, and financial performance during the Class Period from November 3, 2021, to August 1, 2023 [1][9]. Group 1: Lawsuit Details - The lawsuit claims that defendants assured investors that Scotts' inventory levels were appropriate and that they would remain compliant with debt covenants, which led to artificially inflated stock prices [9]. - When the true financial situation was revealed, investors reportedly suffered damages due to these misrepresentations [9]. Group 2: Participation Information - 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 [8]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly [6][8].