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Edgio is facing a class action lawsuit alleging that the Company 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.
If you incurred a loss on EGIO securities purchased between February 11, 2021 and March 12, 2023, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the District of Arizona, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until June 26, 2023 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Enter the following information for this class action case- the deadline is approaching.
See If you Qualify for Monetary Reward
Loss Submission Form