Judge Tosses Limelight Shareholder Suit

Law360, New York (August 11, 2008, 12:00 AM EDT) -- A federal judge in Arizona dismissed a securities class action brought by shareholders against Limelight Networks Inc. and the underwriters of its initial public offering, Morgan Stanley & Co. Inc. and Goldman Sachs & Co., which said they embellished the tech company's growth potential and misled investors in preparation for the much-touted offering Thursday.

Judge Susan Bolton of the U.S. District Court for the District of Arizona ruled that Limelight and its underwriters did not provide false information to investors in violation of the Securities Act...
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Case Information

Case Title

Heffez v. Limelight Network, Inc., et al.,


Case Number

2:07-cv-01603

Court

Arizona

Nature of Suit

Other Statutes: Securities/Commodities

Judge

Susan R Bolton

Date Filed

August 21, 2007

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