Glowing Prospectus Earns Limelight Shareholder Suit

Law360, New York (August 23, 2007, 12:00 AM EDT) -- Limelight Networks Inc. and the underwriters of its initial public offering, Morgan Stanley & Co. Inc. and Goldman Sachs & Co., have been hit with a putative class action that says they embellished the tech company's growth potential and misled investors in preparation for the much-touted offering.

The suit also names as defendants four of Limelight's officers, including its president and chief executive, Jeffrey Lunsford; its chief financial officer and co-founder, Nathan Raciborski; its co-founder and chief strategy officer, Michael Gordon; and William Rinehart, another co-founder,...
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