Edgio, Inc. (EGIO) (f/k/a Limelight Networks, Inc.)
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Edgio, Inc. f/k/a Limelight Networks, Inc. (“Edgio” or the “Company”) (NASDAQ: EGIO, LLNW) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Edgio securities between February 11, 2021 and March 12, 2023, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements as well as 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 of the foregoing, 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. You can review a copy of the Complaint or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Edgio you have until June 26, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.