Recent Security Class Actions

Edgio Inc. Common Stock (NASDAQ: EGIO)

Company Name:Edgio Inc. Common Stock
Stock Symbol:NASDAQ: EGIO
Class Period Start:02/11/2021
Class Period End (inclusive):03/12/2023
Filing Deadline:06/26/2023

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the sale of Open Edge equipment should be accounted as financing leases; (2) that there were material weaknesses in the Company’s internal controls over financial reporting related to Open Edge transactions; (3) that, as a result, the Company’s revenue had been overstated in certain periods; and (4) that, as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.