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SHAREHOLDER ALERT: HALPER SADEH LLP INVESTIGATES MEREDITH CORPORATION – MDP
May 3, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating Meredith Corporation (NYSE: MDP) in connection with the spin-off of its National Media Group business and simultaneous sale of its Local Media Group assets to Gray Television for $2.7 billion in cash. Under the terms of the transaction, Meredith’s National Media Group business will be spun out to shareholders as a standalone publicly traded company, with shareholders receiving approximately $14.50 in cash per share and 1-for-1 equity share in post-close Meredith.
The investigation concerns whether Meredith and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for Meredith shareholders; (2) determine whether Gray Television is underpaying for Meredith; and (3) disclose all material information necessary for Meredith shareholders to adequately assess and value the merger consideration. On behalf of Meredith shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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