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The Briscoe Law Firm Investigates Equinix, Inc. on Behalf of Shareholders for Possible Breaches of Fiduciary Duties by its Offi

^{Published on 2011-03-10 05:11:01 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the officers and Board of Directors of Equinix, Inc. (aEquinixa or aEQIXa) (NASDAQ: EQIX) during the period of June 29, 2010 and October 5, 2010 (the aClass Perioda).

It has been alleged in a recently-filed complaint that during the Class Period, Equinix and certain of its officers and directors made materially false and misleading statements related to Equinixa™s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is alleged that the defendants failed to disclose, among other things, 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 companya™s aggressive synergy plan. Defendants further continuously hyped demand for the companya™s collocation services as being robust and failed to disclose that Equinixa™s business model was not working and was causing the company to experience increased churn and pricing pressure on its collocation services. As a result of defendantsa™ alleged false statements, Equinixa™s stock traded at artificially inflated prices during the Class Period, reaching a high of $105.09 per share on October 5, 2010. However, on October 5, 2010, after Equinix announced it was revising its third quarter and fiscal year 2010 guidance, Equinixa™s stock collapsed $34.75 per share to close at $70.34 per share on October 6, 2010, a one-day decline of over 33% on high volume.

If you currently own or purchased Equinix/EQIX shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.