Equinix, Inc. Former Employee Investigation Over Potential ERISA Violations

If you a former or current employee or are a member of any of Equinix’ investment plans or profit sharing retirement plans and purchased or held Equinix, Inc. (NASDAQ:EQIX) shares or have information relating to this investigation, you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Equinix
Affected Securities: 
NASDAQ: EQIX

An investigation on behalf of former and current employees of Equinix, Inc, who are or were participants or beneficiaries of the Equinix employee company stock option plan and/or currently hold NASDAQ: EQIX stock concerning potential violations of the Employee Retirement Income Security Act (“ERISA”) was announced.

Equinix, Inc has been accused of securities laws violations by investors and according to the investigation by a law firm under ERISA employees (former and current) of Equinix, Inc may be eligible to file additionally a ERISA complaint for putting stock options at risk if they can prove their employer violated its fiduciary duty to them.

The lawsuit by a current long term EQIX investor against directors and officers of Equinix Inc follows a lawsuit filed only for investors who purchased Equinix, Inc. (EQIX) shares during the period between July 29, 2010 and October 5, 2010. The lawsuits follow a steep 30% price drop in EQIX shares last October. According to the complaint filed by investors who purchased Equinix, Inc. (EQIX) shares during the period between July 29, 2010 and October 5, 2010, Equinix Inc violated the Securities Exchange Act of 1934 by issuing between July 29, 2010 and October 5, 2010 materially false and misleading statements regarding its business and financial results. Specifically, so the lawsuit, defendants failed to disclose that Equinix was having difficulty with the integration of Switch & Data Corporation Facilities Company (acquired in April 2010) into its operations due to a decline in bookings prior to the close of the acquisition and due to Equinix’s aggressive synergy plan. Then on October 5, 2010, after the close of trading, Equinix filed its Form 8-K with the U.S. Securities and Exchange Commission and for the first time disclosed lowered third quarter and full year guidance. On October 05, 2010 Equinix, Inc shares traded again as high as $105.09 per share, but lost over 30% value to under $70 per share on October 06, 2010.