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EQIX.US
id: 1144

Equinix, Inc. (EQIX) Accounting Manipulations Case

  • On March 20, 2024, Hindenburg Research released a report, accusing Equinix of manipulating its accounting for the key profitability metric.
  • On it, $EQIX fell 2.3%, losing $1.86B+ of shareholder value.
  • Investors may have grounds to suspect Equinix of fraud, which led to their losses.
On March 20, 2024, before the market opened, 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.”
Hindenburg stated that its investigation, which included a review of financial and litigation records and interviews with 37 former Equinix employees, industry experts and competitors, revealed that Equinix manipulates its accounting for AFFO (“adjusted funds from operations”), the key profitability metric for REITs, overstating it by at least 22% in 2023 alone.

On this news, $EQIX fell 2.3% and lost over $1.86 billion of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Equinix of fraud, which led to their losses.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
20 March 2024
Collecting participants…

Equinix Inc

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software ...

    Ticker
    EQIX.US
    ISIN
    US29444U7000
    CIK
    1101239
    Sector
    Real Estate
    Industry
    REIT - Specialty
    Country
    USA
    Address
    One Lagoon Drive, Redwood City, CA, United States, 94065-1562