|Company name||Meredith Corporation|
NEW YORK, November 14, 2019 –Bragar Eagel & Squire is investigating certain officers and directors of Meredith Corporation (NYSE: MDP) following a class action complaint that was filed against Meredith Corporation on September 6, 2019.
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) the Time, Inc. acquisition was not as profitable as the company had claimed; (2) that the company would incur additional costs for strategic investments to improve the Time business; (3) that, as a result, the company’s earnings would be materially and adversely impacted; and (4) that, 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.
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