TEMPE, Ariz.--(BUSINESS WIRE)--
Limelight
Networks, Inc.(Nasdaq:LLNW), a global leader in digital
content delivery, announced that Akamai agreed today in a hearing before
the Massachusetts U.S. District Court to limit its maximum potential
damages to $63 million plus future accruing interest (if any) in the
longstanding patent dispute between the parties. This is a significant
victory for Limelight, since Akamai previously requested $99 million.
Limelight agreed to post a bond with the court to support the potential
loss. The judge also set a briefing schedule, with a hearing set for
mid-April, to determine the validity of the '703 patent due to
intervening changes in the law of patentability and indefiniteness. If
successful in its validity challenge, Limelight will eliminate all
potential damages in the case. Lastly, the court did not grant a
permanent injunction.
“We are pleased with the outcome of today's hearing. With the maximum
potential loss reduced to $63 million, we believe we have sufficient
liquidity to operate the business as planned without additional
financing,” said Sajid Malhotra, interim chief financial officer at
Limelight. “We will continue to support our customers with the
excellence that they expect.”
About Limelight
Limelight Networks (NASDAQ: LLNW), a global leader in digital content
delivery, empowers customers to better engage online audiences by
enabling them to securely manage and globally deliver digital content,
on any device. The company’s award winning Limelight Orchestrate™
platform includes an integrated suite of content delivery technology and
services that helps organizations secure digital content, deliver
exceptional multi-screen experiences, improve brand awareness, drive
revenue, and enhance customer relationships — all while reducing costs.
For more information, please visit www.limelight.com,
read our blog,
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be sure to visit Limelight
Connect.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160218006595/en/
Press Contact:
famaPR on behalf of Limelight Networks
Ted
Weismann, 617-986-5009
limelight@famapr.com
or
Investor
inquiries:
ir@llnw.com
Source: Limelight Networks