Investors who lost money with shares of Equinix, Inc. (NASDAQ: EQIX) should contact the Shareholders Foundation in connection with Lawsuit

An investor, who purchased shares of Equinix, Inc. (NASDAQ: EQIX), filed a lawsuit over alleged violations of Federal Securities Laws by Equinix, Inc.

Investors who purchased shares of Equinix, Inc. (NASDAQ: EQIX) have certain options and for certain investors are short and strict deadlines running. Deadline: July 1, 2024. NASDAQ: EQIX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Redwood City, CA based Equinix (Nasdaq: EQIX) is the world's digital infrastructure company. On March 20, 2024, Hindenburg Research issued a report entitled "Equinix Exposed: Major Accounting Manipulation, Core Business Decay And Selling An AI Pipe Dream As Insiders Cashed Out Hundreds of Millions". Hindenburg stated, "Our investigation, which included a review of financial and litigation records and interviews with 37 former Equinix employees, industry experts and competitors, revealed that Equinix manipulates its accounting for AFFO, the key profitability metric for REITs. We estimate this metric was overstated by at least 22% in 2023 alone." Further asserting "A key accounting trick to boost AFFO is to misclassify maintenance CapEx as growth CapEx, giving the appearance that the company's cost to maintain its revenue base is lower than it actually is, making the company appear more profitable."

Shares of Equinix, Inc. (NASDAQ: EQIX) declined from $914.93 per share on March 04, 2024, to $785.16 per share on March 25, 2024.

The plaintiff claims that between May 3, 2019 and March 24, 2024, the defendants made materially false and/or misleading statements and/or failed to disclose that Equinix manipulated its financials to reduce operational expenses and boost Adjusted Funds From Operations ("AFFO"), that Equinix oversold power capacity and did not warn of the risks associated with this practice, that Equinix lacked adequate internal controls, and that as a result, Defendants' public statements were materially false and/or misleading at all relevant times

Those who purchased shares of Equinix, Inc. (NASDAQ: EQIX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.