NEW YORK, Jan. 05, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Meredith Corporation (“Meredith”) (NYSE: MDP ) as of the close of business on September 4, 2015, the last business day prior to the merger announcement . You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of Iowa. To get more information go to :
http://zlk.9nl.com/meredith-mdp
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that Meredith and certain insiders violated Sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the “Exchange Act”), as well as their fiduciary duties by engaging in a sales process that failed to maximize shareholder value and maximized benefit to certain insiders. The complaint alleges, among other allegations, that Meredith violated the Exchange Act and its fiduciary duties by: (a) agreeing to an inadequate merger consideration; (b) agreeing to certain deal protection devices that would prevent superior bidders from making successful competing offers for the Company; and (c) issuing materially deficient information in its Registration Statement filed with the United States Securities and Exchange Commission, thereby depriving Meredith shareholders of information required to make an informed decision whether to vote for or against the transaction.
If you suffered a loss in Meredith you have until March 7, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
