Three Edgio Inc. executives have agreed to pay $15 million to settle investor claims that the now-bankrupt technology company misrepresented its revenue, investors told a federal court.
The deal merits preliminary approval, lead plaintiff Peter Frouws said in a filing Wednesday in the US District Court for the District of Arizona. Edgio was a defendant in the proposed class action until the court dismissed it following its September 2024 Chapter 11 filing.
- The investors alleged Edgio and its CEO, a former chief financial officer, and a then-current CFO misled investors by saying the sales pipeline, particularly for newly acquired businesses, ...
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