NEW YORK, Aug. 10, 2007 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating possible securities violations regarding disclosures and omissions by Limelight Networks Inc. ("Limelight" or the "Company") (Nasdaq:LLNW) concerning its Initial Public Offering on June 8, 2007, wherein it sold 14.9 million shares to the investing public at $15.00 per share, realizing over $205 million in proceeds.
It now appears that there are questions concerning the viability of its business model designed to deliver high-quality digital content. Indeed, LLNW shares dropped almost 40% yesterday after revelations that the Company, which just went public, was experiencing seasonality of its receipt of revenue, pricing pressures and increased expenses. The Company sees an expected loss in the third quarter. Limelight shares have declined an additional 9% today.
If you purchased LLNW shares in the IPO or in the open market from June 8, 2007 through August 8, 2007 and are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will speak with you personally at no cost or obligation.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca