NEW YORK, Aug. 17, 2007 LAWFUEL – The Legal Newswire — The Rosen Law Firm (http://www.rosenlegal.com) announced today that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Limelight Networks, Inc. (“Limelight”) (Nasdaq:LLNW) securities during the period from June 8, 2007 through August 8, 2007 (the “Class Period”).
To join the Limelight securities litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. or Phil Kim, Esq.
toll-free at 866-767-3653 or email [email protected] or [email protected] .
You can join the class action online at http://www.rosenlegal.com .
A class action lawsuit has already been filed on behalf of Limelight shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than October 12, 2007. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff’s counsel, Laurence Rosen, Esq. or Phil Kim Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected] No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. You may also remain an absent class member.
The Complaint charges that the Company and certain of its officers and directors, along with the co-lead underwriters of the Company’s Initial Public Offering (“IPO”), violated the Securities Act of 1933 by issuing a Prospectus in connection with its June 8, 2007 IPO that was materially misleading concerning certain adverse business events that were affecting the Company, including: (a) that revenues were negatively impacted due to greater reliance on television-related sales, which are seasonal; and (b) that Limelight was being forced to apply deep discounts to its services in order to attract and maintain customers for its premier services. The Complaint asserts that when the truth about these matters came to light, the Company’s securities fell in value.
The Rosen Law Firm http://www.rosenlegal.com has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.