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Meredith Corporation

Company NameMeredith Corporation
Stock SymbolMDP
Class PeriodJanuary 30, 2018 to September 05, 2019
Lead Plaintiff Motion DeadlineNovember 05, 2019

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.


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