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Monday, 17 June 2024, 20:13 HKT/SGT
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Source: Kaplan Fox & Kilsheimer LLP
EQIX Shareholder Alert: Kaplan Fox & Kilsheimer LLP Notifies Investors of Class Action Complaint Filing and Deadline

NEW YORK, June 17, 2024 - (NewMediaWire) - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of investors that purchased or otherwise acquired the publicly traded securities of Equinix, Inc. (“Equinix” or the “Company”) (NASDAQ: EQIX) between May 3, 2019 and March 24, 2024 (the “Class Period”).  Click Here to Join Investigation.

If you are an Equinix investor and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

Deadline Reminder:  If you are a member of the proposed Class, you may move the court no later than July 1, 2024 to serve as a lead plaintiff for the purported class.  If you have losses we encourage you to contact us to learn more about the lead plaintiff process. 

On March 20, 2024, Hindenburg Research published a report alleging, among other things, that Equinix “manipulates its accounting” for its adjusted funds from operations, overstating the metric by approximately 22% in 2023.  Following this news, the price of Equinix stock fell $19.70 per share, or about 2.3%, to close at $824.88 per share on March 20, 2024.

Then, on March 25, 2024, Equinix disclosed that it had received a subpoena from the U.S. Attorney’s Office for the Northern District of California.  Following this news, the price of Equinix stock fell $8.45 per share, or about 1.1%, to close at $792.52 per share on March 25, 2024. 

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Equinix manipulated its financials to reduce operational expenses and boost Adjusted Funds From Operations; (2) Equinix oversold power capacity and did not warn of the risks associated with this practice; (3) Equinix lacked adequate internal controls; and (4) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

If you have any questions about this Notice, your rights, or your interests, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com




Topic: Press release summary
Source: Kaplan Fox & Kilsheimer LLP

Sectors: Legal & Compliance
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