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SHAREHOLDER ALERT: Weiss Law Investigates Limelight Networks, Inc.
News provided byWeiss Law
May 26, 2022, 8:02 PM ET
NEW YORK, May 26, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Limelight Networks, Inc. ("Limelight" or the "Company") (NASDAQ: LLNW), in connection with the proposed transaction with Edgecast, Inc. ("Edgecast"), a business unit of Yahoo. Upon completion of the transaction, Yahoo will receive approximately 72.2 million shares of Limelight common stock. Additionally, current Limelight shareholders will own approximately 68.1% of the combined company, or approximately 64.5% under the assumption that Limelight achieves all share price targets under the conditional consideration agreement, while Yahoo will own approximately 31.9% or 35.5%, respectively. The all-stock transaction is valued at approximately $300 million.
If you own Limelight shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Weiss Law is investigating whether (i) Limelight's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, and (ii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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