NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against The Scotts Miracle-Gro Company (“Scotts” or the “Company”) (NYSE: SMG) for violations of the federal securities laws on behalf of investors who purchased or acquired Scotts common stock between November 3, 2021 and August 1, 2023, inclusive (the “Class Period”).
On June 6, 2024, a complaint was filed against the Company and certain of its current and former officers and directors alleging that throughout the Class Period, 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.
When investors learned the truth, Scotts’ common stock declined precipitously, injuring investors.
If you suffered a loss of more than $100,000 in Scotts’ securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before August 5, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
