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