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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