SOURCE: Brower Piven, A Professional Corporation

March 22, 2011 17:20 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Equinix, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the May 5, 2011 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - March 22, 2011) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of Equinix, Inc. ("Equinix" or the "Company") (NASDAQ: EQIX) during the period between July 29, 2010 and October 5, 2010, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than May 5, 2011 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that Equinix was having difficulty with the integration of Switch & Data Corporation Facilities Company (acquired in April 2010) into its operations due to a decline in bookings prior to the close of the acquisition and due to the Company's aggressive synergy plan and that the Company's business model was not working and was causing the Company to experience increased churn and pricing pressure on its co-location services. According to the complaint, after Equinix issued a press release on October 5, 2010 announcing expected revised third quarter and fiscal year 2010 guidance in the range of $328.0 to $330.0 million for the third quarter of 2010 and approximately $1,215.0 million in revenues, 1.2% lower than the midpoint of its previous outlook, for the full year 2010 to be approximately $1,215.0 million, and that the Company would transition from a demand fulfillment business model to a demand creation model, the value of Equinix stock declined significantly.

If you have suffered a net loss for all transactions in Equinix, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at, by email at, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 50 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    Email Contact