Shareholders who purchased shares of SMG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. https://securitiesclasslaw.com/securities/the-scotts-miracle-gro-company-loss-submission-form/? id=92369&from=4 ALLEGATIONS: According to the filed complaint, defendants made false statements and/or concealed that Scotts had an oversupply of inventory that far exceeded consumer deman ...

Core Viewpoint - Saxena White P.A. has initiated a securities fraud class action lawsuit against The Scotts Miracle-Gro Company and certain executives, alleging misrepresentation of inventory levels and financial performance during the class period from June 2, 2021, to August 1, 2023 [1][3]. Group 1: Class Action Details - The class action claims violations of the Securities Exchange Act of 1934, specifically under Sections 10(b) and 20(a), and SEC Rule 10b-5, on behalf of all individuals who purchased Scotts common stock during the specified class period [1]. - The lawsuit expands upon a related action, increasing the class period from November 3, 2021, to August 1, 2023, to June 2, 2021, to August 1, 2023, alleging a channel-stuffing scheme and misrepresentation of inventory and consumer demand [3]. - Investors wishing to serve as lead plaintiff must file a motion by August 5, 2024, as per the Private Securities Litigation Reform Act of 1995 [4]. Group 2: Financial Performance and Misrepresentation - On August 2, 2023, Scotts disclosed a 6% decline in quarterly sales for Q3 2023 and reduced its fiscal year EBITDA guidance by 25%, alongside a $20 million write-down of excess inventory, leading to a 19% drop in stock price [2]. - The class action alleges that during the class period, Scotts had an oversupply of inventory exceeding consumer demand and engaged in a channel-stuffing scheme to maintain revenue and meet debt covenants [6]. - Prior disclosures revealed significant issues, including a $300 million shortfall in replenishment orders from U.S. retailers in May 2022, prompting a nearly 50% reduction in fiscal 2022 guidance [7]. Group 3: Company Overview - Scotts Miracle-Gro Company, based in Marysville, Ohio, is a major marketer of branded consumer products for lawn and garden care, with over 90% of its revenue generated from the U.S. Consumer and Hawthorne segments [5]. - The company significantly increased inventory during the COVID-19 pandemic but later faced a mismatch between supply and consumer demand, leading to undisclosed financial issues [5].

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 NEW YORK, July 26, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against The Scotts Miracle-Gro Company ("Scotts" or the "Company") (NYSE: SMG) and reminds investors of the August 5, 2024 deadline to seek the role of lead plaintiff in a federal se ...

Core Viewpoint - The Scotts Miracle-Gro Company is facing a class action lawsuit due to allegations of misleading statements regarding inventory levels and sales practices, which resulted in an oversupply of products that exceeded consumer demand [2][4]. Group 1: Allegations and Issues - The complaint alleges that Scotts executives engaged in a scheme to pressure retailers into purchasing more inventory than necessary, leading to an oversupply situation [2]. - The company reportedly used a practice known as "channel stuffing" to meet sales covenants, which involved saturating sales channels with excess products [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as November 3, 2021, to August 1, 2023, during which shareholders are encouraged to register for participation [5]. - The deadline for shareholders to register for the class action is August 5, 2024, and there is no cost or obligation to participate [5].

NEW ORLEANS, July 24, 2024 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 5, 2024 to file lead plaintiff applications in a securities class action lawsuit against The Scotts Miracle-Gro Company (NYSE: SMG), if they purchased the Company's shares between November 3, 2021 and August 1, 2023, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Ohio. Scotts investors should ...

The earnings report, which is expected to be released on July 31, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. This lawn and garden products company is expected to post quarterly earnings of $1.89 per share in its upcoming report, which represents a year-over-year change of +61.5%. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of ...

NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds 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"), of the important August 5, 2024 lead plaintiff deadline. SO WHAT: If you purchased Scotts common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arr ...

Lawn and garden products manufacturer ScottsMiracle-Gro Co. NYSE: SMG stock surged on its Investor Day update ahead of fiscal Q3 2024 earnings release. The company reaffirmed its full-year 2024 outlook and further added that it expects 3% YoY growth in its U.S. consumer segment from 2025 to 2027. Its products are widely used for agriculture by consumers of plants and lawn care. There is also a growing population of cannabis growers using their products. They are a benefactor from cannabis legalization and d ...

About ScottsMiracle-Gro To watch the Company presentation and listen to the question-and-answer session, please register in advance at this webcast link. For those planning to participate in the question-and-answer session that follows the video presentation, please register for the webcast to view the presentation in addition to registering in advance via this audio link to receive call-in details and a unique PIN. The replay of the conference call will also be available on the Company's investor website, ...

LOS ANGELES, July 22, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against The Scotts Miracle-Gro Company ("Scotts" or "the Company") (NYSE: SMG) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an at ...