Scotts Miracle-Gro Investigation Continued: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of The Scotts Miracle-Gro Company - SMG

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into The Scotts Miracle-Gro Company (NYSE: SMG) (“Scotts” or the “Company”).

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.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information, in violation of federal securities laws. Recently, the court presiding over the case denied the Company’s motion to dismiss in part, allowing the case to move forward.

KSF’s investigation is focusing on whether Scotts’ officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Scotts shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-538-3608 or email KSF Managing Partner Lewis Kahn ([e-mail]), or visit https://www.ksfcounsel.com/cases/nyse-smg/ to learn more.

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. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, 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, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

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

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