Equinix $41.5 Million Securities Class Action Settlement

Shareholders who purchased or otherwise acquired Equinix Inc. common stock between May 3, 2019, and March 24, 2024, and suffered damages due to alleged violations of federal securities laws may be eligible to claim a cash payment from a class action settlement.

Equinix Inc. agreed to pay $41,500,000 to settle a class action lawsuit alleging it and certain executives made materially false and misleading statements regarding its financial accounting practices and overselling of power capacity at its datacenters. The lawsuit claimed these actions artificially inflated Equinix’s reported financial results and stock price.

Who is eligible to file a claim?

Class members must meet all of the following criteria:

They purchased or otherwise acquired Equinix Inc. common stock between May 3, 2019, and March 24, 2024, inclusive.
They suffered damages as a result of the alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Additional details:

Both individuals and entities can be class members.
Joint owners, legal representatives and fiduciaries acting on behalf of a class member may file on behalf of the beneficial owner.

How much is the securities payout?

The total settlement fund is $41,500,000. The amount each class member may receive depends on several factors:

The number of valid claims filed
The number of shares purchased
The timing of purchases and sales
The total recognized losses of all claimants

The settlement is distributed on a pro rata basis according to a court-approved plan of allocation:

The average distribution per common share is approximately $2.36 before deductions for taxes, notice and administration costs, and attorneys’ fees and expenses. The class member's actual payment may be higher or lower depending on their individual claim and the total number of valid claims.
The settlement administrator calculates each class member’s award based on their recognized loss amount, which depends on when they bought and sold Equinix stock and how much they paid.
Class members who sold shares before the first corrective disclosure on March 20, 2024, have a recognized loss amount of $0.
For class members who held shares through one or more corrective disclosures, the settlement administrator will calculate their recognized loss based on the decline in inflation per share during their holding period, subject to certain limitations.
For class members who sold their shares after the class period, their recognized loss is limited by the average closing price during the statutory 90-day look-back period ($762.89 per share).
If the total recognized losses of all claimants exceed the net settlement fund, the settlement administrator will reduce payments on a pro rata basis.
Class members whose payment would be less than $10 will not receive a payout.

How to claim a settlement payment

Class members can file a claim online or download, print and complete the PDF claim form and mail it to the settlement administrator. The claim deadline is Dec. 24, 2025.

Settlement administrator's mailing address: Equinix Securities Settlement Claims Administrator, c/o Verita, Global P.O. Box 301133 Los Angeles, CA 90030-1133

Proof or documentation required to submit a claim

All class members must provide their Social Security or taxpayer identification number.
They must also provide purchase, acquisition and sale information, including:

Trade dates
Number of shares purchased, acquired or sold
Total purchase, sale or acquisition price

Claimants must provide documentation to support their transactions in Equinix common stock. Acceptable forms of proof include:

Broker confirmation slips
Broker account statements
Authorized statements from a broker containing the transactional information found in a confirmation slip
Other documentation deemed adequate by the claims administrator

Payout options

The settlement administrator will issue payments by paper check or electronic payment payable to the authorized claimant (the beneficial account owner).
The claims administrator will not issue payments to third-party filers or representatives unless they provide proper documentation.

$41.5 million settlement fund

The $41,500,000 settlement fund includes:

Notice and administration costs: To be determined
Attorneys' fees: Up to $10,375,000
Attorneys' expenses: Up to $300,000
Payments to eligible class members: The remainder of the fund

Important dates

Deadline to request exclusion: Dec. 1, 2025
Fairness hearing: Dec. 18, 2025
Deadline to file a claim: Dec. 24, 2025

When is the Equinix securities settlement payout date?

The settlement administrator will issue payments to eligible class members after it resolves all appeals and processes all claims and the court grants final approval of the settlement.

Why is there a class action settlement?

The class action lawsuit alleged Equinix Inc. and certain executives made materially false and misleading statements about the company’s financial accounting and datacenter power capacity, which allegedly inflated its adjusted funds from operations and stock price. The plaintiffs claimed these misrepresentations caused investors to purchase Equinix stock at artificially inflated prices and suffer losses when the truth was revealed.

The defendants denied all allegations of wrongdoing and liability but agreed to settle to avoid the costs, risks and delays of further litigation.