Edgio, Investors Settle Claims of Inflated Sales Pipeline (1)

Edgio Inc. has reached an agreement with a group of investors who brought a proposed securities fraud class action claiming the company made accounting errors and misrepresented its sales pipeline in software offerings.

The video streaming delivery service and the investor group notified the court Thursday that they reached a deal following mediation, though no details were provided, according to a filing with the US District Court for the District of Arizona. Judge Diane J. Humetewa separately granted the parties’ stay request, ordering them to file a motion for preliminary approval of the class settlement by Feb. 11.

• The investors ...