LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Meredith Corporation (“Meredith” or the “Company”) (NYSE: MDP) investors concerning the Company and its officers’ possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to email@example.com, or visit our website at www.glancylaw.com.
On September 5, 2019, the Company expected fiscal 2020 adjusted EBITDA in the range of $640 million to $675 million, which is well below analysts’ expectations of $793 million. Meredith planned to increase spending to improve operations of Time Inc., which the Company had acquired for $1.8 billion, because the business was not as profitable as expected.
On this news, Meredith’s shares fell as much as $11.57, or over 26%, during intraday trading on September 5, 2019, thereby injuring investors.
If you purchased Meredith securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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