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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Time Inc. (NYSE: TIME) to Meredith Corporation (NYSE: MDP). Under the terms of the transaction, Time shareholders will receive $18.50 in cash for each share of Time stock they own.
The investigation concerns whether the Board of Time breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Meredith Corporation is underpaying for Time shares, thus unlawfully harming Time shareholders.
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