Bronstein, Gewirtz & Grossman LLC Announces Scotts Miracle-Gro Company Investors May Join Class Action Lawsuit!

NEW YORK CITY, NY / ACCESSWIRE / July 14, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies 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 action seeks to recover damages from Defendants for alleged violations of the federal securities laws on behalf of all persons and entities who purchased or otherwise acquired securities of Scotts Miracle-Gro between November 3, 2021 and August 1, 2023, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the Company’s website: 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 its credit covenants, and financial performance. Specifically, the complaint alleges that: (1) Defendants repeatedly assured investors that the Company’s inventory levels were adequate while attributing strong sales to “the sale of expensive inventory” resulting in “peak sales” and “record deliveries”; (2) Defendants repeatedly allayed investors’ concerns about the Company’s debt by stating that they were “optimistic that we will remain within our bank covenants” and “foresee no leverage compliance issues in the future,” and (3) as a result of these misrepresentations, Scotts’ common stock traded at artificially inflated prices during the Class Period. When the true details came to market, the lawsuit alleges that investors suffered harm.

What’s next?

A class action lawsuit has already been filed. If you would like to review a copy of the lawsuit, you can visit the firm’s website: bgandg.com/SMG or you can 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 at Scotts Miracle-Gro, you have until August 5, 2024 to request that the court appoint you as lead plaintiff. Your ability to share in any compensation is not dependent on your serving as lead plaintiff.

There are no costs for you

We represent investors in class action lawsuits on a contingency basis, meaning we ask the court to reimburse us for our expenses and attorney fees (usually a percentage of the total award) only if we win.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm representing investors in securities fraud class action lawsuits and shareholder actions involving derivatives trading. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Past results do not guarantee similar results.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | (email protected)

SOURCE: Bronstein, Gewirtz & Grossman, LLC