Aerogrow International, Inc. Shareholder Litigation

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Aerogrow International, Inc. Shareholder Litigation
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The information on this website is only a summary of the Litigation. For more detailed information, please review the Notice.

If you are a Class member, your legal rights will be affected by this Litigation whether you act or do not act.

There has been no settlement or resolution on the merits of plaintiffs’ claims and there is no claim form to submit.  There has been no admission by defendants or any expression by the court on the validity of the claims.

***Please note Notices will be mailed to potential Class members beginning on July 1, 2022.

 

SUMMARY OF YOUR OPTIONS

Do nothing

Stay in the lawsuit.  Await the outcome.

By doing nothing, you keep the possibility of sharing in any recovery that may result from a resolution in favor of the Class, such as through trial or settlement.  In exchange, you give up any right you may have to sue Defendants separately about the same factual circumstances and legal claims being raised in the Action, and you will be bound by the outcome of the Action if tried before a jury or decided by the court.  If the parties agree to a settlement, then you will have another opportunity to opt out or exclude yourself from the case at that time.

Ask to be excluded from the Class by sending a written request for exclusion postmarked no later than August 30, 2022.

Get out of the lawsuit.  Get no benefits from it.

If you ask to be excluded from the Class, you will not be bound by what happens in this Action and will keep any right you might have to sue Defendants separately about the same factual circumstances and legal claims being raised in this lawsuit.  If a recovery is later awarded in this case, either through trial or settlement, you would not share in any such recovery

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CLASS DEFINITION

The Court presiding over this Action certified the Action as a class action on behalf of the following class: “All minority shareholders of AeroGrow International, Inc. who held AeroGrow stock as of the Effective Date for the Merger and had the right to receive the Merger consideration, as well as their successors and assigns.”

WHAT IS THIS CASE ABOUT?

The Action is brought on behalf of AeroGrow minority stockholders and asserts claims for breach of fiduciary duty and aiding and abetting breach of fiduciary duty against AeroGrow International, Inc. (“AeroGrow”), Chris Hagedorn, Cory Miller, Patricia M. Ziegler, SMG Growing Media, Inc., AGI Acquisition Sub, Inc., The Scotts Miracle-Gro Company, James Hagedorn, Peter Supron, David B. Kent, and H. Macgregor Clarke (collectively, “Defendants”). The Action is brought by class representatives Overbrook Capital LLC and Nicoya Capital LLC (“Class Representatives”). The Action alleges that Defendants breached their fiduciary duties and/or aided and abetted breaches of fiduciary duties in conjunction with the merger whereby SMG Growing Media, Inc. acquired all outstanding shares of AeroGrow for $3.00 in cash per share (the “Merger”). Defendants deny all allegations of wrongdoing asserted in the Action and deny any liability whatsoever to any member of the Class.

REMAINING A CLASS MEMBER

If you are a member of the Class, you can choose to do nothing.  If you do that, you will remain in the Class and will be bound by all orders and judgments in the Action, whether favorable or unfavorable.  If the Class prevails on the common issues, or if a settlement is reached later on in the Action, you may be entitled to some recovery.  If there is a final judgment in favor of Plaintiffs or Defendants, or if a settlement is reached, you will not be able to pursue a lawsuit on your own behalf with regard to any of the issues or claims at issue in this Action. 

Your interests in the Action are being represented by the Class Representatives and Class Counsel.  Class Counsel are representing the Class on a contingent fee basis, which means that they will be awarded attorneys’ fees and costs only if the Class Representatives succeed in obtaining a recovery from one or more Defendants.  Any attorneys’ fees and costs will be awarded by the court from the settlement or judgment, if any, obtained on behalf of the Class.  You will not be separately responsible for any such fees or costs.

EXCLUSION FROM THE CLASS

If you want to pursue your own lawsuit or claims against Defendants about the alleged conduct in this Action, do not want to be bound by what the court does in this Action, or if you simply do not want to be a part of the Class pursuing claims against Defendants, you must ask to be excluded.  If you choose to exclude yourself from the Class, you will not be bound by any orders or judgments in the Action, nor will you be eligible to share in any recovery that might be obtained in the Action. Details regarding how to submit a request for exclusion may be found on page 6 of the Notice.

Further Information:

For more details regarding this case, please reference the documents filed in the case under the “Court Documents” link on the left. You may also contact the Class Administrator for further information regarding this case.

Class Administrator:

AeroGrow International, Inc. Shareholder Litigation
c/o A.B. Data, Ltd.
P.O. Box 173047
Milwaukee, WI  53217
(877) 261-8296
info@AeroGrowShareholderLitigation.com

Plaintiffs' Class Counsel:

Francis A. Bottini, Jr.
Yury A. Kolesnikov
Bottini & Bottini, Inc.
7817 Ivanhoe Avenue, Suite 102
La Jolla, CA 92037
Telephone: (858) 914-2001
Facsimile: (858) 914-/span>
fbottini@bottinilaw.com
ykolesnikov@bottinilaw.com
 

Plaintiffs' Liaison Class Counsel:

Don Springmeyer
Michael Gayan
Kemp Jones, LLP
3800 Howard Hughes Pkwy., 17th Floor
Las Vegas, NV 89169
Telephone: (702) 385 - 6000
Facsimile: (702) 385-6001

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