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State: 17.08.2024 | 11PM
Sat, 07.09.2024       Equinix
US29444U7000

NEW ORLEANS, Sept. 6, 2024 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Equinix, Inc. (NasdaqGS: EQIX).

On March 20, 2024, Hindenburg Research released a report entitled "Equinix Exposed: Major Accounting Manipulation, Core Business Decay And Selling an AI Pipe Dream As Insiders Cashed Out Hundreds of Millions" that detailed a multitude of allegations against the Company, including that it manipulated profit margin and AFFO by misclassifying typical operational expenses, or maintenance CapEx, as growth CapEx and engaged in an undisclosed and highly risky approach to revenue growth by overselling power capacity in the hope that the customer will not use all of the power, which could result in facility outages and a failure to fulfill contractual obligations. Then, on March 25, 2020, the Company disclosed that it had received a subpoena from the U.S. Attorney's Office for the Northern District of California and had commenced its own independent investigation into the issues raised in the Hindenburg report.

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