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Stock impact report

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of The Scotts Miracle-Gro Company (SMG) on Behalf of Investors

Scotts Miracle-Gro Company (The) (SMG) 
Last scotts miracle-gro company (the) earnings: 1/29 07:00 am Check Earnings Report
Company Research Source: Business Wire
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation of The Scotts Miracle-Gro Company (“Scotts” or the “Company”) (NYSE: SMG) on behalf of investors concerning the Company’s possible violations of federal securities laws.On June 8, 2022, Scotts announced that replenishment orders from its U.S. retailers were more than $300 million below target in the month of May, 2022, and disclosed 2022 full-year earnings would be roughly half of its prior guidance. The Company also announced plans to take on additional debt to cover restructuring charges as it attempted to cut costs. Analysts were shocked by the announcement, with one report by Truist commenting that, “[w]e have not seen anything similar occur in the 20 years we have covered [Scotts].”On this news, the price of Scotts common stock declined by $9.05 per share, or 8.9%, to close at $93.13 per share on June 8, 2022, thereby injuring investors.On August 2, 2023, the Company disclosed disappoint Show less Read more
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