SCOTTS MIRACLE-GRO SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Law...

22.06.24 04:45 Uhr

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NEW ORLEANS, June 21, 2024 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilAugust 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.

KSF (PRNewsfoto/Kahn Swick & Foti, LLC)

What You May Do

If you purchased shares of Scotts and would like to discuss your legal rights and how this case might affect you and your right to recover 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 (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-smg/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 5, 2024.

About the Lawsuit

Scotts and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On August 2, 2023, the Company disclosed disappointing financial results including a decline in quarterly sales for fiscal third quarter of 6%, a decline in gross margin by 420 basis points, as well as a cut to fiscal year EBITDA guidance by a staggering 25% and a $20 million write down of "pandemic driven excess inventories."

On this news, the price of Scotts' shares fell by $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' Retirement 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 premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

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SOURCE Kahn Swick & Foti, LLC

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Analysen zu The Scotts Miracle-Gro Company

DatumRatingAnalyst
11.01.2017The Scotts Miracle-Gro Company HoldSunTrust
20.10.2016The Scotts Miracle-Gro Company BuyGabelli & Co
22.12.2006Update The Scotts Miracle-Gro Company: NeutralPrudential Securities
17.08.2005Update The Scotts Miracle-Gro Company: BuySun Trust Robinson Humphrey
28.07.2005Update The Scotts Miracle-Gro Company: OverweightJP Morgan
DatumRatingAnalyst
20.10.2016The Scotts Miracle-Gro Company BuyGabelli & Co
17.08.2005Update The Scotts Miracle-Gro Company: BuySun Trust Robinson Humphrey
28.07.2005Update The Scotts Miracle-Gro Company: OverweightJP Morgan
28.07.2005Update The Scotts Miracle-Gro Company: Market OutpAvondale Partners
29.06.2005Update The Scotts Miracle-Gro Company: BuyKeyBanc Capital Markets / McDonald
DatumRatingAnalyst
11.01.2017The Scotts Miracle-Gro Company HoldSunTrust
22.12.2006Update The Scotts Miracle-Gro Company: NeutralPrudential Securities
04.01.2005Update Scotts Co.: NeutralJP Morgan
DatumRatingAnalyst

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