The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Meredith Corporation (NYSE: MDP) who purchased shares between January 31, 2018 and September 5, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Meredith Corporation lawsuit alleges that (1) the Time, Inc. acquisition was not as profitable as the Company had claimed; (2) the Company would incur additional costs for strategic investments to improve the Time business; (3) as a result, the Company’s earnings would be materially and adversely impacted; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until November 5, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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