Kahn Swick & Foti, LLC and Former Louisiana Attorney General Announce Investigation Into Equinix, Inc. – EQIX
October 06 2010 - 2:08PM
Business Wire
Kahn Swick & Foti, LLC (“KSF”) and Former Attorney General
of Louisiana, Charles C. Foti, Esq. announce the commencement of an
investigation into Equinix, Inc. ("Equinix" or the "Company")
(Nasdaq: EQIX) to determine whether it has violated federal
securities laws by issuing false and misleading statements to its
shareholders.
On October 5, 2010, after the close of trading, Equinix filed
its Form 8-K with the SEC and for the first time disclosed lowered
third quarter and full year guidance which was attributed to
“underestimated churn assumptions in Equinix’s forecast models in
North America, greater than expected discounting to secure longer
term contract renewals and lower than expected revenues
attributable to the Switch and Data business acquired in April
2010.”
As the result of this news, shares of Equinix have traded down
to a low of $69.45 today, a drop of 34% from yesterday’s closing
price of $105.09.
If you have information that would assist KSF in its
investigation, or would like to discuss your legal rights, you may,
without obligation or cost to you, e-mail or call KSF Managing
Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free
1-866-467-1400, ext. 200, after hours via cell phone 504-301-7900,
or KSF Director of Client Relations, Neil Rothstein, Esq.
(neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or
after hours via cell phone 330-860-4092. KSF attorneys have
significant experience in representing both institutional and
individual shareholders in securities fraud litigation nationwide.
KSF encourages both institutional and individual purchasers of
Equinix to contact the firm to discuss the investigation.
For more information on KSF, please visit
www.ksfcounsel.com.
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