Shareholder Class Action Filed Against Limelight Networks, Inc. By the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP

Shareholder Class Action Filed Against Limelight Networks, Inc. By the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP

RADNOR, Pa., Aug. 23 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of all common stock purchasers of Limelight Networks, Inc. (NASDAQ:LLNW) ("Limelight" or the "Company") pursuant or traceable to the Company's June 8, 2007 Initial Public Offering (the "IPO") through August 8, 2007, inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbtklaw.com.

The Complaint charges Limelight and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Limelight is a provider of high-performance content delivery network services. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company's revenues were subject to seasonal fluctuation; (2) that the Company was experiencing severe pricing pressure for its services; (3) that the Company was experiencing a declining customer demand, which would affect the Company's revenues in subsequent financial quarters; (4) that the Company was experiencing rising expenses; and (5) that the Company lacked adequate internal and financial controls.

On June 8, 2007, the Company conducted its IPO. In connection with the IPO, the Company filed a Registration Statement and Prospectus with the SEC. The IPO was a financial success for the Company and certain selling stockholders, as they were able to sell 16 million shares of the Company's stock to investors at a price of $15.00 per share, for gross proceeds of $240 million. The Company shocked investors on August 9, 2007 when it reported disappointing financial results for its second quarter of 2007. The Company disclosed for the first time that its revenues were subject to seasonality, and that it had experienced a drop-off in media customers in the quarter due to the seasonality that media companies experience after the television season ends. Finally, the Company admitted that it was experiencing price pressures in certain customer segments. On this news, shares of the Company's stock declined $5.81 per share, or over 39 percent, to close on August 9, 2007 at $8.99 per share, on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.

For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit http://www.sbtklaw.com/ .

If you are a member of the class described above, you may, not later than October 12, 2007, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin Barroway Topaz & Kessler or other counsel of your choice, to serve as your counsel in this action.

CONTACT: Schiffrin Barroway Topaz & Kessler, LLP
Darren J. Check, Esq.
Richard A. Maniskas, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@sbtklaw.com

First Call Analyst:
FCMN Contact:

Source: Schiffrin Barroway Topaz & Kessler, LLP

CONTACT: Darren J. Check, Esq., or Richard A. Maniskas, Esq.,
1-888-299-7706, +1-610-667-7706, info@sbtklaw.com

Web site:

http://www.sbtklaw.com/

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