NEW YORK, March 20, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Equinix (“Equinix” or the “Company”) (NASDAQ: EQIX) on behalf of Equinix stockholders. Our investigation concerns whether Equinix has violated the federal securities laws and/or engaged in other unlawful business practices.
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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."
If you purchased or otherwise acquired Equinix shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
