SMG - SMG Class Action Alert: Robbins LLP Reminds Investors of the Lead Plaintiff Deadline in The Scotts Miracle-Gro Company Class Action | Benzinga
SAN DIEGO, June 14, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased The Scotts Miracle-Gro Company (NYSE:SMG) common stock between November 3, 2021 and August 1, 2023. Scotts produces various lawn, garden, and agricultural products for both consumer and professional purposes.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that The Scotts Miracle-Gro Company (SMG) Misled Investors Regarding its Business Prospects
According to the complaint, at the start of the class period, Scotts had an oversupply of inventory that far exceeded consumer demand. Recognizing that problem, Scotts executives engaged in a scheme to saturate the Company's sales channel with more product than those retailers could sell through to end users, a practice that required Scotts sales personnel to pressure retailers to purchase more inventory than they wanted or needed. Ultimately, Scotts was only able to satisfy the covenants through the channel stuffing scheme.
On August 2, 2023, Scotts issued a press release announcing ...