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Investigation announced for Investors who lost money with shares of Edgio, Inc. (NASDAQ: EGIO)

03-23-2023 04:36 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Edgio, Inc. (NASDAQ: EGIO) shares over potential securities laws violations by Edgio, Inc.

An investigation for investors in Edgio, Inc. (NASDAQ: EGIO) shares over potential securities laws violations by Edgio, Inc.

An investigation was announced for investors of Edgio, Inc. (NASDAQ: EGIO) shares over potential securities laws violations by Edgio, Inc.

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 possible claims on behalf of purchasers of the securities of Edgio, Inc. (NASDAQ: EGIO) concerning 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 $0.75 per share on March 22, 2023.

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

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

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