{"id":19926,"date":"2024-06-29T14:46:18","date_gmt":"2024-06-29T14:46:18","guid":{"rendered":"https:\/\/allonlinebanglanewspapers.com\/news\/analyst-expresses-caution-to-equinix-eqix-investors-as-investigations-mount-hagens-berman\/"},"modified":"2024-06-29T14:46:18","modified_gmt":"2024-06-29T14:46:18","slug":"analyst-expresses-caution-to-equinix-eqix-investors-as-investigations-mount-hagens-berman","status":"publish","type":"post","link":"https:\/\/allonlinebanglanewspapers.com\/news\/analyst-expresses-caution-to-equinix-eqix-investors-as-investigations-mount-hagens-berman\/","title":{"rendered":"Analyst Expresses Caution to Equinix (EQIX) Investors as Investigations Mount – Hagens Berman"},"content":{"rendered":"
\n

SAN FRANCISCO, June 29, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Equinix, Inc. (NASDAQ: EQIX) <\/strong>investors who suffered substantial losses to take action by submitting your losses now<\/a>.<\/p>\n

Class Period: <\/strong>May 3, 2019 \u2013 Mar. 24, 2024
Lead Plaintiff Deadline: <\/strong>July 1, 2024
Visit<\/strong>: www.hbsslaw.com\/investor-fraud\/EQIX<\/a>
Contact the Firm Now<\/strong>: EQIX@hbsslaw.com<\/a>
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895<\/strong><\/p>\n

Equinix, Inc. (NASDAQ: EQIX) Class Action: <\/strong><\/p>\n

A report by analyst Far Horizon on Seeking Alpha ignited fresh scrutiny over Equinix\u2019s accounting practices, particularly the key profitability metric Adjusted Funds from Operations (AFFO). In a June 17, 2024 report titled \u201cEquinix: Time To Pull The Trigger?,\u201d Far Horizon seemed to cast doubt on the thoroughness of Equinix\u2019s internal audit, which cleared the company of manipulating AFFO through misclassifying expenses.<\/p>\n

\u201cIn my corporate experience, it\u2019s unusual for an audit to come up with a 100% clean bill of health, and no change recommendations,\u201d wrote Far Horizon. \u201cWhile I don\u2019t question the integrity or professionalism of anyone involved, I think that caution is merited pending the SEC findings.\u201d<\/p>\n

Far Horizon\u2019s warning to investors comes on the heels of allegations by short seller Hindenburg Research in March 2024, which accused Equinix of inflating profitability by misclassifying essential maintenance costs as growth-related capital expenditures. In response, the EQIX Board Audit Committee carried out an internal review, with support from external professional advisors, and concluded that Equinix\u2019s financial reporting was accurate and that there is no need for restatement on GAAP or non-GAAP measures.<\/p>\n

Hindenburg has since dismissed the audit committee\u2019s investigation as lacking objectivity due to its reliance on self-examination and a lack of transparency.<\/p>\n

Adding to Equinix’s woes are ongoing investigations by the Securities and Exchange Commission (SEC) and a reported probe by the Department of Justice (DOJ). Additionally, investors have filed a class-action lawsuit mirroring Hindenburg’s claims, alleging financial manipulation.<\/p>\n

Recent Equinix financials raise further concerns. The company reported sluggish revenue growth despite high “growth” CapEx, negative free cash flow, and declining physical infrastructure usage. Shareholder rights firm Hagens Berman has also begun investigating Equinix’s AFFO calculations, potentially uncovering additional details.<\/p>\n

In conjunction with the investor lawsuit, is probing whether Equinix’s financial reporting accurately reflects underlying profitability, particularly regarding its AFFO calculations and data center capacity utilization. The investigation is being led by partner Reed Kathrein.<\/p>\n

If you invested in Equinix and have substantial losses, or have knowledge that may assist the firm\u2019s investigation, submit your losses now<\/a> \u00bb<\/p>\n

If you\u2019d like more information and answers to frequently asked questions about the Equinix case and our investigation, read more<\/a> \u00bb<\/a><\/p>\n

About Hagens Berman<\/a>
Hagens Berman is a global plaintiffs\u2019 rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at\u00a0hbsslaw.com<\/a>. Follow the firm for updates and news at\u00a0@ClassActionLaw<\/a>.\u00a0<\/p>\n

Contact: <\/u>
Reed Kathrein, 844-916-0895<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO, June 29, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Equinix, Inc. (NASDAQ: EQIX) investors who suffered substantial losses to take action by submitting your losses now. Class Period: May 3, 2019 \u2013 Mar. 24, 2024Lead Plaintiff Deadline: July 1, 2024Visit: www.hbsslaw.com\/investor-fraud\/EQIX Contact the Firm Now: EQIX@hbsslaw.com \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895 Equinix, Inc. (NASDAQ: EQIX) Class Action: […]<\/p>\n","protected":false},"author":2,"featured_media":19927,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/51670c91-d369-4a8c-8102-d393de9f6d19","fifu_image_alt":"","footnotes":""},"categories":[11],"tags":[],"class_list":["post-19926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts\/19926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/comments?post=19926"}],"version-history":[{"count":0,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts\/19926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/media\/19927"}],"wp:attachment":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/media?parent=19926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/categories?post=19926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/tags?post=19926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}