| Company: | Limelight Networks, Inc. |
| Ticker Symbol: | NASD: LLNW |
| Class Period:: | June 8, 2007 to August 8, 2007 |
| Date Filed: | Aug-13-07 |
| Lead Plaintiff Deadline: | Oct-12-07 |
| Court: | Southern District, NY |
| Allegations: |
A class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the "Class") of all persons who purchased or acquired securities of Limelight Networks, Inc. ("Limelight Networks" or the "Company") (NASDAQ: LLNW) between June 8, 2007 and August 8, 2007 (the "Class Period").
The Complaint alleges that defendants, including the Company's top executives and the co-lead underwriters of its IPO, negligently violated the federal securities laws by issuing a Prospectus in connection with its June 8, 2007 initial public offering ("IPO") that was materially misleading regarding adverse business events that were affecting the Company, including: (a) that revenues were suffering due to greater reliance on television-related sales, which are seasonal; and (b) that Limelight Networks was being forced to resort to deep discounting its services in order to attract and maintain customers for its premier services because of those customers' resistance to paying adequate prices, a development that will impact the Company's June 30, 2007 quarter, and will continue to adversely impact the Company going forward. When the truth about these matters was revealed, Limelight Networks shares dropped substantially.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The Complaint alleges that defendants, including the Company's top executives and the co-lead underwriters of its IPO, negligently violated the federal securities laws by issuing a Prospectus in connection with its June 8, 2007 initial public offering ("IPO") that was materially misleading regarding adverse business events that were affecting the Company, including: (a) that revenues were suffering due to greater reliance on television-related sales, which are seasonal; and (b) that Limelight Networks was being forced to resort to deep discounting its services in order to attract and maintain customers for its premier services because of those customers' resistance to paying adequate prices, a development that will impact the Company's June 30, 2007 quarter, and will continue to adversely impact the Company going forward. When the truth about these matters was revealed, Limelight Networks shares dropped substantially.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
