8th Circ. Maintains rejection of Meredith shareholders’ lawsuit

By Katryna Perera (Oct. 18, 2021, 10:09 p.m. EDT) – The Eighth Circuit on Monday upheld a lower court decision to launch a securities class action lawsuit against investors in Meredith Corp. of Time Inc. and Meredith’s internal controls, causing the company’s largest single-day stock decline since 1986.

An Iowa federal judge dismissed the lawsuit in October 2020 with prejudice for failure to report despite the plaintiff identifying 138 allegedly false statements by company management. The judge also dismissed the principal plaintiff’s request to modify his complaint.

After the Plantation Town Police Officers’ Pension Fund was …

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