Class Action Lawsuit Filed Against Scotts Miracle-Gro CompanyClass Action Lawsuit Filed Against Scotts Miracle-Gro Company Bronstein, Gewirtz & Grossman, LLC, has filed a class action lawsuit against Scotts Miracle-Gro Company (SMG) and certain of its officers. The lawsuit alleges that defendants made false and misleading statements about the company’s inventory levels, debt covenants, and financial performance. Class Definition: The lawsuit seeks damages on behalf of all persons and entities that purchased or acquired Scotts Miracle-Gro securities between November 3, 2021, and August 1, 2023. Case Details: The complaint alleges that defendants reassured investors about appropriate inventory levels, selling through expensive inventory, and dismissed concerns about debt compliance. However, when the true details emerged, investors suffered damages. What’s Next: A class action lawsuit has been filed. Investors have until August 5, 2024, to ask the court to appoint a lead plaintiff. No Cost to Investors: Investors are represented on a contingency fee basis, meaning the firm will only charge fees if successful. About Bronstein, Gewirtz & Grossman, LLC: The firm represents investors in securities fraud class actions and shareholder derivative lawsuits. They have recovered millions of dollars for investors. Contact Information: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 (e-mail address) Source: Bronstein, Gewirtz & Grossman, LLC
NEW YORK CITY, NY / ACCESSWIRE / July 21, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, informs investors that a class action lawsuit has been filed against Scotts Miracle-Gro Company (The) (“Scotts Miracle-Gro” or “the Company”) (NYSE:SMG) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Scotts Miracle-Gro securities between November 3, 2021 and August 1, 2023, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s website at bgandg.com/SMG.
Case details
The complaint alleges that throughout the Class Period, defendants made numerous materially false and misleading statements and omissions regarding the Company’s inventory levels, compliance with debt covenants, and financial performance. Specifically, the complaint alleges that: (1) defendants repeatedly assured investors that the Company’s inventory levels were appropriate, while attributing strong sales to “selling through expensive inventory,” resulting in “peak sales” and “record” shipments; (2) defendants repeatedly dismissed investors’ concerns about the Company’s debt, stating that they were “optimistic that we will remain within the limits of our bank covenants” and “did not see any leverage compliance issues in the future,” and (3) as a result of these misrepresentations, Scotts common stock traded at artificially inflated prices throughout the Class Period. When the true details emerged, the lawsuit alleges that investors suffered damages.
What’s next?
A class action lawsuit has already been filed. To view a copy of the complaint, visit the firm’s website at bgandg.com/SMG or contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Scotts Miracle-Gro, you have until August 5, 2024 to ask the court to appoint you as lead plaintiff. Your ability to share in any recovery does not require that you serve as lead plaintiff.
It costs you nothing
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket costs and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm representing investors in securities fraud class actions and shareholder derivative lawsuits. Our firm has recovered hundreds of millions of dollars for investors across the country.
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | (e-mail address)
SOURCE: Bronstein, Gewirtz & Grossman, LLC
