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NEW ORLEANS, La., Sept. 07, 2019 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilNovember 5, 2019 to file lead plaintiff applications in a securities class action lawsuit against Meredith Corporation (NYSE: MDP), if they purchased the Company’s securities between May 10, 2018 and September 4, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Meredith and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-mdp/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 5, 2019.
About the Lawsuit
Meredith and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 5, 2019, the Company disclosed a disappointing forecast including adjusted EBITDA for full-year fiscal 2020 in the range of $640 million to $675 million, well below analysts’ expectations of $793 million, and profitability difficulties related to its $1.8 billion acquisition of Time Inc.
On this news, the price of Meredith’s shares plummeted more than 23%.
The case is Wirthwein v. Meredith Corporation, 1:19-cv-08340.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163