Former Louisiana Attorney General Launches Investigation into Equinix: Kahn Swick & Foti, LLC Investigates Officers and Directors of Equinix, Inc. – EQIX

Former Louisiana Attorney General Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has initiated an investigation into Equinix, Inc. (NasdaqGS: EQIX).

On March 20, 2024 Hindenburg Research published a report titled “Equinix Exposed: Massive Accounting Manipulation, Core Business Decline, and Selling an AI Pipeline While Insiders Cashed Out Hundreds of Millions,” detailing a variety of allegations against the company, including that it manipulated profit margin and AFFO by misclassifying typical operating expenses or maintenance CapEx as growth CapEx and took an undisclosed and highly risky approach to increasing revenue by selling too much power capacity in the hope that the customer would not use all of the power, which could lead to plant outages and failure to meet contractual obligations. Then, on March 25, 2020, the company announced that it had received a subpoena from the U.S. Attorney’s Office for the Northern District of California and launched its own independent investigation into the issues raised in the Hindenburg report.