SAN DIEGO, March 20, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Equinix (Nasdaq: EQIX) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
What if I purchased Equinix securities? If you purchased securities and suffered significant losses on your investment, join our investigation now:
Click Here to Join the Investigation
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? 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.”
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
