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SCOTTS MIRACLE-GRO SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuits Against The Scotts Miracle-Gro Company - SMG
Scotts Miracle-GroScotts Miracle-Gro(US:SMG) GlobeNewswire News Roomยท2024-08-01 02:52

Core Points - ClaimsFiler reminds investors of the deadline to file lead plaintiff applications in class action lawsuits against The Scotts Miracle-Gro Company for shares purchased between June 2, 2021, and August 1, 2023 [1][2] - The lawsuits allege that Scotts and certain executives failed to disclose material information, violating federal securities laws [2][4] - On August 2, 2023, Scotts disclosed disappointing financial results, including a 6% decline in quarterly sales, a 420 basis point decline in gross margin, a 25% cut to fiscal year EBITDA guidance, and a $20 million write-down of excess inventories [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 [3] Legal Context - The case is identified as City of Hialeah Employees' Retirement System v. The Scotts Miracle-Gro Company, No. 24-cv-03132, with a subsequent case expanding the class period [4] - ClaimsFiler serves as a resource for retail investors to recover funds from securities class action settlements, offering free registration and access to information on various cases [4]