IPO Investors Settle With Limelight Networks

Law360, New York (December 10, 2009, 5:07 PM EST) -- A settlement in principle has been reached in a class action that claims Limelight Networks Inc. and the underwriters of its June 2007 initial public offering embellished the online business solutions company's growth potential and misled investors.

The deal headed off oral arguments before the U.S. Court of Appeals for the Ninth Circuit, which were set for Thursday.

Details of the agreement were not disclosed in a joint motion to remand the case to the U.S. District Court for the District of Arizona — granted Wednesday...
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