An investigation on behalf of current long term investors in Edgio, Inc. (NASDAQ: EGIO) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/22/2023 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Edgio, Inc.
Investors who are current long term investors in Edgio, Inc. (NASDAQ: EGIO) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: EGIO stocks follows a lawsuit filed against Edgio, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: EGIO stocks, concerns whether certain Edgio directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants failed to disclose to investors that the sale of Open Edge equipment should be accounted as financing leases,that there were material weaknesses in the Company's internal controls over financial reporting related to Open Edge transactions, that, as a result, the Company's revenue had been overstated in certain periods, and 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.
Those who purchased shares of Edgio, Inc. (NASDAQ: EGIO) have certain options and should contact the Shareholders Foundation.
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