For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. According to the complaint, at the start of the class period, Scotts had an oversupply of inventory that far exceeded consumer demand. Recognizing that problem, Scotts executives engaged in a scheme to saturate the Company's sales channel with more product than those retailers could sell through to end users, a practice that required Scotts sales personnel to pressure retailers to purchase more invento ...

ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter. If you purchased or acquired Scotts common stock, and/or would like to discuss your legal rights and options please visit The Scotts Miracle-Gro Company Shareholder Class Action Lawsuit or contact Investor Relations Manager Pe ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Scotts To Contact Him Directly To Discuss Their Options Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. The truth began to emerge on June 8, 2022, when Scotts admitted that replenishme ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Scotts To Contact Him Directly To Discuss Their Options As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: the Company's inventory levels, debt covenant compliance, and financial performance. Specifically, Defendants repeatedly assured inves ...

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of The Scotts Miracle-Gro Company (NYSE: SMG) between November 3, 2021 and August 1, 2023, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2024. WHAT TO DO NEXT: To join the Scotts class action, go to https://rosenlegal.com/submit-form/? c ...

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of The Scotts Miracle-Gro Company (NYSE: SMG) between November 3, 2021 and August 1, 2023, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2024. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of succe ...

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. According to the complaint, at the start of the class period, Scotts had an oversupply of inventory that far exceeded consumer demand. Recognizing that problem, Scotts executives engaged in a scheme to saturate the Company's sales channel with more product than those retailers could sell through to end users, a practice that required Scotts sales personnel to pressure retailers to purchase more invento ...

Core Viewpoint - A class action lawsuit has been filed against The Scotts Miracle-Gro Company, alleging that the company misled investors regarding its inventory levels, debt compliance, and financial performance during the Class Period from November 3, 2021, to August 1, 2023 [8][9]. Company Overview - Scotts produces a variety of lawn, garden, and agricultural products for both consumer and professional markets and is the largest marketer of branded consumer products for lawn and garden care [5]. - In 2014, Scotts established The Hawthorne Gardening Company, focusing on hydroponics for the cannabis market [5]. Allegations and Financial Disclosures - The complaint alleges that Scotts executives engaged in a scheme to inflate sales by saturating sales channels with excess inventory, allowing the company to book revenue from distributor sales and maintain earnings to debt ratios just above required levels [2][9]. - On June 8, 2022, Scotts disclosed that replenishment orders from U.S. retailers were $300 million below target for May, leading to a significant cut in its 2022 earnings guidance by approximately 50% and plans to incur additional debt for restructuring [6][9]. - Throughout the Class Period, Scotts allegedly made false statements about inventory levels and debt compliance, assuring investors that inventory was appropriate and that there were no leverage compliance issues [9][12]. Financial Performance and Impact - On August 2, 2023, Scotts reported a 6% decline in quarterly sales and a 420 basis point drop in gross margins, along with a 25% reduction in fiscal year EBITDA guidance and a $20 million write-down for excess inventories [13]. - The company modified its debt covenants from a 6.25 times debt-to-EBITDA ratio to 7.00 times, indicating increased financial strain [13].

The Complaint alleges that 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 product than those retailers could sell through to end users, a practice that required Scotts Miracle-Gro sales personnel to pressure retailers to purchase more inventory than they wanted or needed ...

https://www.rgrdlaw.com/cases-the-scotts-miracle-gro-company-class-action-lawsuit-smg.html CASE ALLEGATIONS: Scotts Miracle-Gro produces various lawn, garden, and agricultural products for both consumer and professional purposes. If you suffered substantial losses and wish to serve as lead plaintiff of the Scotts Miracle-Gro class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449- 4900 or via e-mail ...