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Case Status:    ONGOING    
On or around 03/10/2020 (Date of last review)

Filing Date: September 06, 2019

According to the Complaint, Meredith is a media company that distributes content through print, digital, mobile, video, and broadcast television. It operates under two business segments, national media and local media. In January 2018, Meredith acquired Time, Inc. for $3.2 billion.

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, the Complaint alleges 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.

This case was voluntarily dismissed on November 7, 2019. A related case continues in the Southern District of Iowa.

On November 25, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on March 9.

COMPANY INFORMATION:

Sector: Services
Industry: Printing & Publishing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MDP
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 19-CV-08340
JUDGE: Hon. George B. Daniels
DATE FILED: 09/06/2019
CLASS PERIOD START: 05/10/2018
CLASS PERIOD END: 09/04/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP (NY)
  2. Law Offices of Howard G. Smith
No Document Title Filing Date
COURT: S.D. Iowa
DOCKET #: 19-CV-00294
JUDGE: Hon. George B. Daniels
DATE FILED: 03/09/2020
CLASS PERIOD START: 01/31/2018
CLASS PERIOD END: 09/30/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  2. DICKINSON MACKAMAN TYLER & HAGEN PC
    699 Walnut Street, Suite 1600, DICKINSON MACKAMAN TYLER & HAGEN PC , IA 50309
    ·
  3. Klausner Kaufman Jensen & Levinson
    7080 Northwest 4th Street, Klausner Kaufman Jensen & Levinson, FL 33317
    954.916.1202 ·
No Document Title Filing Date
—Related District Court Filings Data is not available