Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Edgio, Inc. f/k/a Limelight Networks, Inc. (NasdaqGS: EGIO) securities.
If you suffered a loss on your Edgio investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 11 2021 - Mar 12 2023
CASE DETAILS: 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.
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