Securities Class Action Lawsuit Against The Scotts Miracle-Gro CompanySecurities Class Action Lawsuit Against The Scotts Miracle-Gro Company Lead Plaintiff Deadline: August 5, 2024 Law Firm: Kahn Swick & Foti, LLC Partners: * Lewis Kahn, Managing Partner * Charles C. Foti, Jr., former Louisiana Attorney General Allegations: * Scotts Miracle-Gro Company (SMG) and certain executives are accused of failing to disclose material information during the period from November 3, 2021 to August 1, 2023. Class Period: * November 3, 2021 to August 1, 2023 Relevant Events: * On August 2, 2023, SMG announced disappointing financial results, including: * 6% decline in fiscal third quarter revenue * 420 basis point decline in gross margin * 25% cut in fiscal year EBITDA guidance * $20 million write-down on “pandemic-related excess inventory” * The news caused SMG’s stock price to fall $13.58 per share (19%) on August 2, 2023. Case Details: * Case Name: City of Hialeah Employees’ Pension System v. The Scotts Miracle-Gro Company * Case Number: 24-cv-03132 * Court: United States District Court for the Southern District of Ohio If You Purchased SMG Stock: Investors who purchased SMG stock during the Class Period may be eligible to participate in this class action. Lead Plaintiff Motion Deadline: August 5, 2024 Contact Information: * Kahn Swick & Foti, LLC * Lewis Kahn, Managing Partner * Email: [email protected] * Phone: 1-877-515-1850 * Website: https://www.ksfcounsel.com/cases/nyse-smg/ About Kahn Swick & Foti, LLC: * One of the nation’s top securities litigation law firms * Represents public institutional investors, hedge funds, asset managers, and retail investors * Offices in New York, Delaware, California, Louisiana, and New Jersey
NEW ORLEANS, July 16, 2024 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have August 5, 2024 to file lead plaintiff motions in a securities 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 United States District Court for the Southern District of Ohio.
What you can do
If you purchased shares of Scotts stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-smg/ for more information. If you wish to serve as lead plaintiff in this class action, you must file a Petition with the Court by August 5, 2024.
About the lawsuit
Scotts and certain of its executives are accused of failing to disclose material information during the Class Period, in violation of the federal securities laws.
On August 2, 2023, the company announced disappointing financial results, including a 6% decline in fiscal third quarter revenue, a 420 basis point decline in gross margin, as well as a whopping 25% cut in fiscal year EBITDA guidance and a $20 million write-down on “pandemic-related excess inventory.”
The news caused Scotts’ stock price to fall $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’ Pension 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 top securities litigation law firms. KSF serves a variety of clients, including public institutional investors, hedge funds, asset managers and retail investors, seeking recovery for investment losses resulting from corporate fraud or misconduct by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
For more information about KSF, please visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydrasstraat, Suite 960
New Orleans, LA 70163
