Company: Edgio, Inc. f/k/a Limelight Networks, Inc.
Ticker: (NasdaqGS) EGIO
Deadline
Passed
Lead Plaintiff Deadline: June 26, 2023
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Allegations
The filed complaint alleges that Edgio, Inc. f/k/a Limelight Networks, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the sale of Open Edge equipment should be accounted as financing leases; (2) there were material weaknesses in the Company’s internal controls over financial reporting related to Open Edge transactions; (3) as a result, the Company’s revenue had been overstated in certain periods; and (4) as a result of the foregoing, Defendants' positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.