San Diego, CA -- (SBWIRE) -- 04/12/2023 -- Edgio, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Edgio, Inc. (NASDAQ: EGIO), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Edgio, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Tempe, AZ based Edgio, Inc. provides edge-enabled software solutions through an integrated delivery, applications, and streaming platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Edgio, Inc. reported that its annual Total Revenue declined from $230.19 million in 2020 to $217.63 million in 2021, and that its Net Loss increased from $19.27 million in 2020 to $54.76 million in 2021.

On March 13, 2023, Edgio, Inc. issued a press release stating that "it will restate its previously issued financial statements for the years ended December 31, 2021 and 2020, as well as Quarterly Reports for 2022 and 2021 (collectively, the "Prior Period Financial Statements") related to the revenue recognition of its Open Edge Solution."

Shares of Edgio, Inc. (NASDAQ: EGIO) declined to as low as $0.68 per share on April 5 and 6, 2023.

Those who purchased shares of Edgio, Inc. (NASDAQ: EGIO) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.