SCOTT’S MIRACLE-GRO SHAREHOLDER WARNING FROM FORMER LOUISIANA

NEW ORLEANS, July 9, 2024 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have until 5 August 2024 to file lead plaintiff motions in a class action lawsuit against The Scotts Miracle-Gro Company (NYSE: SMG) if they purchased the Company’s stock between November 3, 2021 and August 1, 2023, inclusive (the “Class Period”). This action is pending in the U.S. District Court for the Southern District of Ohio.

What you can do

If you purchased shares of Scotts and would like to discuss your legal rights, how this case affects you and your right to recover your economic loss, you may contact Lewis Kahn, Managing Partner at KSF, at no obligation and at no cost, toll-free at 1-877-515-1850 or via email ([email protected]) or visit https://www.ksfcounsel.com/cases/nyse-smg/ to learn more. If you wish to serve as lead plaintiff in this class action, you must move the Court by 5 August 2024.

About the lawsuit

Scotts and certain of its executives are alleged to have failed to disclose material information during the Class Period, thereby violating the federal securities laws.

On August 2, 2023, the company announced disappointing financial results, including a 6% decline in third-quarter revenue, a 420 basis point decline in gross margin, a staggering 25% cut in fiscal year EBITDA guidance, and a $20 million write-down for “pandemic-related inventory excesses.”

On this news, Scotts stock price fell $13.58 per share, or 19%, from a closing price of $71.44 per share on August 1, 2023, to a closing price of $57.86 per share on August 2, 2023.

The case is City of Hialeah Employees’ Retirement System v. The Scotts Miracle-Gro Company, No. 24-cv-03132.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading boutique securities litigation firms. KSF serves a wide range of clients – including public institutional investors, hedge funds, asset managers and individual investors – in recovering investment losses resulting from corporate fraud or abuse of authority by publicly traded companies. KSF maintains offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163