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

An investigation was announced long-term investors in shares of Edgio, Inc. (NASDAQ: EGIO) concerning potential breaches of fiduciary duties by certain directors and officers of Edgio, Inc. was announced.

Investors who are current long term investors in Edgio, Inc. (NASDAQ: EGIO) shares, 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 for current long term 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.

According to that complaint filed in the U.S. District Court for the District of Arizona 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.

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.

This release was published on openPR.