Goodbye Limelight Networks: Level 3 Communications files patent lawsuit
Level 3 Communications has filed a patent lawsuit against Tempe, Arizona based media streaming provider Limelight Networks, Inc. (LLNW).
Shares of Limelight Networks, Inc. (LLNW) are down to $6.68 almost near an all time low. Limelight has recently received much negative press surrounding poor earnings and share holder concern. I believe it was just a year ago that Limelight Networks, Inc. (LLNW) had their initial public offering raising nearly $200 million at $22 per share. Limelight Networks, Inc. (LLNW) recently survived a previous patent-infringement lawsuit against Akamai Technologies so far incurring $7.6 million in legal costs.
I have used Limelight Networks in the past and found them just too expensive. With so much competition in streaming video I do not know how Limelight can survive. Limelight has become a takeover target and they would do well to sell.
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