Press release
Levi & Korsinsky Notifies Investors with Losses on their Investment in Equinix, Inc. of Class Action Lawsuit
Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of Equinix, Inc. on behalf of investors who purchased between July 29, 2010 and October 5, 2010 (the “Class Period”).New York, NY, March 11, 2011 -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of Equinix, Inc. (“Equinix” or the “Company”) (Nasdaq: EQIX) on behalf of investors who purchased between July 29, 2010 and October 5, 2010 (the “Class Period”).
The complaint alleges that during the Class Period, defendants violated federal securities laws by failing to disclose that Equinix was having difficulty with the integration of Switch & Data Corporation Facilities into its operations due to a decline in bookings and the Company’s synergy plan. The complaint further alleges that defendants failed to disclose that the Company’s business model was not working and was causing the Company to experience increased churn and pricing pressure on its co-location services. As a result of defendants’ false statements, Equinix’s stock traded at artificially inflated prices, reaching a high of $105.09 per share on October 5, 2010. However, on October 5, 2010, after Equinix announced it was revising its third quarter and fiscal year 2010 guidance, Equinix’s stock collapsed $34.75 per share to close at $70.34 per share on October 6, 2010, a 33% decline.
If you are a member of the class and suffered a loss in Equinix stock, you have until May 5, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/equinix-eqix.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor , New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, http://www.zlk.com
Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St.15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com
Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St.15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor , New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, http://www.zlk.com
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