Class Action Lawsuit Filed Against Scotts Miracle-Gro Company for Securities ViolationsClass Action Lawsuit Filed Against Scotts Miracle-Gro Company for Securities Violations New York, July 1, 2024 – Lowey Dannenberg PC, a prominent consumer and investor relief law firm, has announced the filing of a class action lawsuit against The Scotts Miracle-Gro Company (“Scotts”) for violations of federal securities laws. The lawsuit represents investors who purchased or acquired Scotts common stock between November 3, 2021, and August 1, 2023. Allegations The complaint alleges that during the Class Period, Scotts and certain officers and directors made false or misleading statements and failed to disclose material information, including: * Scotts Miracle-Gro maintained an excessive inventory that far exceeded consumer demand. * Scotts Miracle-Gro executives pressured retailers to purchase excess inventory, resulting in an inventory surplus. Impact on Investors When these allegations were revealed, Scotts’ common stock value plummeted, causing significant losses to investors. Investor Participation Investors who have lost more than $100,000 in Scotts securities are encouraged to contact Lowey Dannenberg at (914) 733-7256 or email Andrea Farah ([email protected]) or Vincent R. Cappucci Jr. ([email protected]) to participate or learn more. Lead Plaintiff Deadline Investors seeking to serve as lead plaintiff must take action by August 5, 2024. About Lowey Dannenberg Lowey Dannenberg is a national firm representing investors who have suffered financial losses due to corporate fraud and malfeasance. The firm has extensive experience in complex securities litigation and has recovered billions of dollars for clients. Contact: Lowey Dannenberg PC 44 South Broadway, Suite 1100 White Plains, NY 10601 (914) 733-7234 [email protected] Source: Lowey Dannenberg PC
NEW YORK, July 1, 2024 (GLOBE NEWSWIRE) — Lowey Dannenberg PC, a leading consumer and investor relief law firm, announces the filing of a class action lawsuit against The Scotts Miracle-Gro Company ( “Scotts” or the “Company”) (NYSE: SMG) for violations of the federal securities laws on behalf of investors who purchased or acquired shares of Scotts common stock between November 3, 2021 and August 1, 2023, inclusive (the “Class Period”).
On June 6, 2024, a complaint was filed against the Company and certain of its current and former officers and directors, alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i ) Scotts Miracle-Gro had an oversupply of inventory that far exceeded consumer demand; and (ii) Scotts Miracle-Gro executives engaged in a scheme to saturate Scotts Miracle-Gro’s sales channel with more products than those retailers could resell to end users, a practice in which Scotts Miracle-Gro’s sales force pressured retailers had to put in place to buy more inventory than they wanted or needed.
When investors discovered the truth, Scotts’ common stock suddenly plummeted, hurting investors.
If you have suffered a loss of more than $100,000 in Scotts securities and would like to participate or learn more, click here or contact our attorneys at (914) 733-7256 or by email to Andrea Farah ( [email protected]) or Vincent R. Cappucci Jr. ([email protected]).
Any investor seeking to serve as lead plaintiff must take action to do so August 5, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm that represents institutional and individual investors who have suffered financial losses as a result of corporate fraud and malfeasance in violation of the federal securities and antitrust laws. The firm has significant experience prosecuting multi-million dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg PC
44 South Broadway, Suite 1100
White Plains, NY 10601
Phone: (914) 733-7234
Email address: [email protected]
SOURCE: Lowey Dannenberg PC
