Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 20, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Equinix, Inc. (NASDAQ: EQIX) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Equinix stock. Equinix investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On March 20, 2024, before the opening of the stock market, Hindenburg Research unveiled a report titled “Equinix Exposed: Major Accounting Manipulation, Core Business Decay And Selling an AI Pipe Dream As Insiders Cashed Out Hundreds of Millions.” The report, resulting from Hindenburg's analysis, involved scrutinizing financial documents, legal cases, and conducting interviews with 37 ex-Equinix employees, industry specialists, and competitors. The investigation alleged that Equinix had overstated its key profitability indicator, AFFO (“adjusted funds from operations”), a crucial measure for REITs, by at least 22% in 2023.
Following the release of this information, Equinix’s stock price fell by more than 4% during intraday trading on the same day.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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