NYSE: SMG Lawsuit against Directors filed - Investors in shares of The Scotts Miracle-Gro Company (NYSE: SMG) should contact the Shareholders Foundation

SAN DIEGO, Sept. 30, 2024 /PRNewswire/ -- The Shareholders Foundation, Inc. announces that a lawsuit was filed by a NYSE: SMG investor against certain directors of Scotts Miracle-Gro Company.

Investors who purchased shares of The Scotts Miracle-Gro Company (NYSE: SMG) prior to November 2021 and continue to hold any of those NYSE: SMG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

In June 2024, a lawsuit was filed against The Scotts Miracle-Gro Company over alleged securities laws violations. The plaintiff alleged that the defendants repeatedly assured investors that the Company's inventory levels were appropriate, while attributing strong sales to "selling through high-cost inventory," which resulted in "peak selling" and "record" shipments, that the Defendants repeatedly assuaged investors' concerns about the Company's debt, stating that they were "optimistic we will remain within the bounds of our bank covenants" and "[did] not see leverage compliance issues going forward".

Then in July 2024, a NYSE: SMG investor filed a lawsuit against certain Scotts Miracle-Gro directors over alleged breaches of fiduciary duties. That plaintiff claims that certain executives of The Scotts Miracle-Gro Company caused the company to "flood its sales networks with inventory" after overcorrecting for a previous product shortage, and that they allegedly did not disclose this situation to investors until significant damage was done.

Those who purchased shares of The Scotts Miracle-Gro Company and currently hold any NYSE: SMG shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

View original content to download multimedia: https://www.prnewswire.com/news-releases/nyse-smg-lawsuit-against-directors-filed---investors-in-shares-of-the-scotts-miracle-gro-company-nyse-smg-should-contact-the-shareholders-foundation-302262079.html

SOURCE Shareholders Foundation, Inc.