BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith 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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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