Edgio, Inc.: Company Investigated by the Portnoy Law Firm

Investors can contact the law firm at no cost to learn more about recovering their losses

/EIN News/ -- LOS ANGELES, March 26, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Edgio, Inc. (NYSE: EGIO) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Edgio investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Edgio issued a press release on March 13, 2023, before the market opened, stating that it would restate its financial statements for the years 2020 and 2021 and quarterly reports for 2021 and 2022. The reason behind this restatement is an error in the revenue recognition of the Open Edge Solution, as reported by the audit committee. Due to this, the company would not be able to file its annual report on time. This news resulted in a 15% drop in Edgio's share price, closing at $0.87 per share, which harmed investors.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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