Why Limelight Networks Sank 13% on Thursday

Shares of Limelight Networks (NASDAQ: LLNW) sank as much as 15.5% by midday Thursday after the company released a filing with the U.S. Securities and Exchange Commission (SEC). The filing outlined a recent legal complaint from a shareholder and the loss of a large customer at Edgecast, a company that Limelight Networks is set to acquire shortly. These negative pieces of information caused shareholders to sell the stock.

As of 12:41 p.m. ET, Limelight Networks stock is down 13.2%.

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Source Fool.com