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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.

Outline:

Equinix reported financial performance and growth using key REIT metrics such as adjusted funds from operations. Investors later alleged the company overstated these metrics and failed to disclose weaknesses in its internal controls. In March 2023, Equinix disclosed accounting issues and control failures, and the stock declined sharply. Investors filed suit and Equinix later agreed to a settlement.

Timeline:
May 3, 2019: Equinix reported strong AFFO growth as part of its financial results.
Late 2021: Internal reviews identified potential misstatements and accounting control weaknesses.
March 2023: Equinix disclosed material weaknesses in internal controls related to revenue and expenses.
March 2023: $EQIX declined more than 13% following the disclosure.
March 24, 2023: Investors filed a securities class action lawsuit.
May 28, 2025: Equinix agreed to settle the claims.
Background:

Equinix is a global provider of data center infrastructure and interconnection services used by enterprises and cloud computing companies. As a real estate investment trust (REIT), the company frequently highlighted adjusted funds from operations (AFFO) as a key financial performance metric.

During the period referenced in the claims, Equinix reported steady growth and emphasized its financial discipline and operational efficiency. Investors later alleged that the company’s accounting practices overstated AFFO and did not accurately reflect its financial performance.

According to the claims, internal reviews identified issues related to accounting practices and the classification of certain expenses and fees. These issues raised concerns about the reliability of previously reported financial metrics.

In March 2023, Equinix disclosed material weaknesses in its internal controls and revised certain financial measures. Following the disclosure and the decline in the company’s share price, investors filed a securities class action alleging the company’s earlier statements were misleading.

What Can Investors Expect Now?

Equinix agreed to a settlement with $EQIX investors to resolve claims that it misled them about financial reporting practices and internal control weaknesses.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.

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

Frequently Asked Questions

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