The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Arizona on behalf of investors who purchased Edgio, Inc. f/k/a Limelight Networks, Inc. (NasdaqGS: EGIO) securities between February 11, 2021 and March 12, 2023.
According to the Edgio lawsuit, throughout the Class Period defendants made 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.
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.
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