LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Edgio, Inc. (“Edgio” or “the Company”) (NASDAQ: EGIO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Edgio disclosed on March 13, 2023, that it would restate its financial statements for the years ending 2020 and 2021 along with quarterly reports within those years. The Company admitted that its audit committee had “identified an error in the Company’s historic accounting treatment of Edgio’s Open Edge solution.” The error would also cause a delay in the Company’s upcoming annual report. Based on this news, shares of Edgio dropped by 15.5% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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