Science & Technology
Thu, March 24, 2011Wed, March 23, 2011Tue, March 22, 2011Mon, March 21, 2011Fri, March 18, 2011Thu, March 17, 2011Wed, March 16, 2011Tue, March 15, 2011Mon, March 14, 2011Fri, March 11, 2011Thu, March 10, 2011Faruqi & Faruqi, LLP Announces Class Action Lawsuit Against Equinix, Inc. and the May 5, 2011 Lead Plaintiff Deadline - EQIX
Published in Science and Technology on Friday, March 18th 2011 at 16:00 GMT by Market Wire
NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased the common stock of Equinix, Inc. (aEquinixa or the aCompanya) (NASDAQ: EQIX) between July 29, 2010 and October 5, 2010 (the aClass Perioda).
For more information regarding this class action lawsuit, please click here: [ www.faruqilaw.com/EQIX ]
The complaint alleges that during the Class Period, Equinix issued a series of materially false and misleading statements regarding the Companya™s business and financial results. Specifically, the complaint alleges that Equinix failed to disclose that the Company was having difficulty with the integration of Switch & Data Corporation Facilities Company (which had formerly been Equinixa™s biggest competitor and which been acquired for $700 million 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.
On October 5, 2010, the Company issued a press release lowering its third-quarter and fiscal-year 2010 guidance. Equinix explained during the following analyst conference call that its co-location services business was not as robust as previously disclosed. As a result, the Company stated that it would transition from a ademand fulfillmenta business model to a ademand creationa model. On this news, Equinixa™s stock price fell by $34.75 per share, more than 33%, to close at $70.34 per share on October 6, 2010. The stock is currently trading in the range of $85 per share.
You have until May 5, 2011 to request that the Court appoint you lead plaintiff in this class action. If you have lost in excess of $100,000 in connection with your ownership of the common stock in Equinix and wish to serve as lead plaintiff, please request more information now by clicking here: [ www.faruqilaw.com/EQIX ] or contact Juan E. Monteverde, Esq. either via e-mail at [ jmonteverde@faruqilaw.com ] or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firma™s clients.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ([ www.faruqilaw.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
