Investor Files Lawsuit Against Directors of Scotts Miracle-Gro Company – Shareholders Foundation Announces Action

Investor Files Lawsuit Against Directors of Scotts Miracle-Gro Company

In a recent development, an investor in NYSE:SMG shares has filed a lawsuit against certain directors of Scotts Miracle-Gro Company. The lawsuit alleges breaches of fiduciary duties and raises concerns about the company’s inventory levels and financial disclosures.

The plaintiff claims that the defendants misled investors by assuring them that the company’s inventory levels were appropriate, while attributing strong sales to “selling through high-cost inventory.” Additionally, the lawsuit alleges that the defendants downplayed concerns about the company’s debt and failed to disclose important information about the company’s financial health.

This lawsuit comes on the heels of another legal action filed in June 2024, which alleged securities laws violations by The Scotts Miracle-Gro Company. The plaintiff in that case accused the company of flooding its sales networks with inventory after overcorrecting for a previous product shortage, leading to significant damage to investors.

Investors who purchased shares of The Scotts Miracle-Gro Company prior to November 2021 and still hold NYSE:SMG shares are encouraged to contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554. The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides information on shareholder issues and securities class actions.

For more information on this developing story, please contact Michael Daniels at mail@shareholdersfoundation.com or visit the Shareholders Foundation website. Stay tuned for updates on this ongoing legal battle between investors and the directors of Scotts Miracle-Gro Company.

Source: Shareholders Foundation, Inc.