SMG - SMG Class Action Reminder: Robbins LLP Reminds The Scotts Miracle-Gro Company Stockholders about the Class Action Lawsuit Filed Against SMG | Benzinga
SAN DIEGO, June 24, 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.
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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, ...