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EQIX.US
id: 1144

Equinix (EQIX) Investor Settlement

Late claims are being considered for compensation, subject to approval.
$41,500,003
Cash Settlement
N.D. California
Court
3:24-cv-02656
Case number
05/03/2019
Class period Start
03/24/2024
Class period End
12/24/2025
Claim deadline
Equinix has reached a settlement with $EQIX investors over claims that it misled the market about its financial reporting practices and failed to disclose internal control weaknesses.
  • $EQIX stockholder filed a claim vs. Equinix for manipulating financials to boost AFFO and lacking adequate internal controls.
  • On March 20, 2024, following the Hindenburg Research report, $EQIX fell by 2.3%, losing $1.86B+ of shareholder value.
  • Affected EQIX investors may join the claim to be notified about potential recovery.
On March 20, 2024, before the market opened, Hindenburg Research released 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 that Equinix manipulates its accounting for AFFO (“Adjusted Funds From Operations”), the key profitability metric for REITs, overstating it by at least 22% in 2023 alone.

On this news, $EQIX fell 2.3% and lost over $1.86B of its market capitalization, seriously damaging shareholders.

Based on these events, $EQIX stockholder filed a claim against Equinix and its leaders, accusing them of the following:
  • Equinix manipulated financials to boost AFFO.
  • They also oversold power capacity without warning of associated risks and lacked adequate internal controls.
Considering all the information, investors might have grounds to suspect that Equinix manipulated financials to boost AFFO and lacked adequate internal controls.
Case Type
US Securities Class Action
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements, 
Failure to Disclose, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
2.36
Filing date
11/14/2023
Lead Plaintiff Deadline
07/01/2024
Plaintiffs
Wayne Chan
Attorneys
Rosen Law Firm
Defendants
Charles Meyers, Keith D. Taylor
Administrator
Verita Global
Court hearing date
12/18/2025
Exclusion deadline
12/01/2025
Objection deadline
12/01/2025
Attorney fee
$10,675,000
Trades matching type
FIFO

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