Bronstein, Gewirtz & Grossman LLC Reminds Scotts Miracle-Gro Company (The) Investors to Join the Class Action!

NEW YORK, NY / ACCESSWIRE / June 30, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that it has filed a class action lawsuit against Scotts Miracle-Gro Company (“Scotts Miracle-Gro” or the “Company”) (NYSE:SMG) and certain of its officers.

Class definition

This lawsuit seeks to recover damages from 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.

Details of the case

The complaint alleges that throughout the period covered by the lawsuit, defendants made numerous materially false and misleading statements and omissions regarding the Company’s inventory levels, compliance with the terms of the debt agreement and financial performance. Specifically, the complaint alleges that: (1) defendants repeatedly assured investors that the Company’s inventory levels were adequate while attributing the high sales to “high-cost inventory sales,” which resulted in “peak sales” and “record” deliveries; (2) defendants repeatedly assuaged investors’ concerns about the Company’s debt by stating that they were “optimistic that we would remain within the limits of our banking agreements” and “(did) not see any problems with compliance with leverage rules in the future,” and (3) as a result of these erroneous statements, Scotts common stock traded at artificially inflated prices during the period covered by the lawsuit. When the real data came to market, the lawsuit claims that investors suffered damages.

What’s next?

A class action lawsuit has already been filed. If you would like to review a copy of the complaint, you may visit the firm’s website: 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 have suffered a loss in the Scotts Miracle-Gro case, you have until August 5, 2024 to ask the Court to appoint you as lead plaintiff. Your ability to share in any relief does not require you to serve as lead plaintiff.

You do not incur any costs

We represent investors in class action lawsuits on a retainer basis. This means that we will ask the court to recover our costs and attorney fees, usually a percentage of the total award, only if we are successful.

Why Bronstein, Gewirtz and Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative actions. Our firm has recovered hundreds of millions of dollars for investors across the country.

Lawyer advertising. Previous results do not guarantee similar results.

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

SOURCE: Bronstein, Gewirtz and Grossman, LLC