Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Equinix, Inc. to Inquire About the Le
March 22 2011 - 5:20PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Northern District of California on behalf of
purchasers of the common stock of Equinix, Inc. ("Equinix" or the
"Company") (NASDAQ: EQIX) during the period between July 29, 2010
and October 5, 2010, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than May 5, 2011 and be selected by the Court.
The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and
how much of a settlement to accept for the Class in the action. The
lead plaintiff will be selected from among applicants claiming the
largest loss from investment in the Company during the Class
Period. You are not required to have sold your shares to seek
damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period 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 the Company's aggressive synergy plan and that the Company's
business model was not working and was causing the Company to
experience increased churn and pricing pressure on its co-location
services. According to the complaint, after Equinix issued a press
release on October 5, 2010 announcing expected revised third
quarter and fiscal year 2010 guidance in the range of $328.0 to
$330.0 million for the third quarter of 2010 and approximately
$1,215.0 million in revenues, 1.2% lower than the midpoint of its
previous outlook, for the full year 2010 to be approximately
$1,215.0 million, and that the Company would transition from a
demand fulfillment business model to a demand creation model, the
value of Equinix stock declined significantly.
If you have suffered a net loss for all transactions in Equinix,
Inc. common stock during the Class Period, you may obtain
additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 50 years. If you choose
to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your
choice. You need take no action at this time to be a member of the
class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
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