NEW YORK, NY / ACCESSWIRE / May 4, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Equinix, Inc. ("Equinix" or the "Company") (NASDAQ:EQIX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Equinix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 20, 2024, Hindenburg Research published a short report alleging that Equinix's senior management was manipulating key financial metrics to boost the appearance of profitability and trigger executive stock grants (the "Hindenburg Report"). Following publication of the Hindenburg Report, Equinix's stock price fell $19.70 per share, or 2.33%, to close at $824.88 per share on March 20, 2024. Then, on March 25, 2024, Equinix disclosed that the Audit Committee of the Company's Board of Directors had commenced an independent investigation to review the matters referenced in the Hindenburg Report and that following publication of the Hindenburg Report, the Company received a subpoena from the U.S. Attorney's Office for the Northern District of California.
On this news, Equinix's stock price fell $8.45 per share, or 1.05%, to close at $792.52 per share on March 25, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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