Equinix Agrees to $42 Million Investor Accounting Settlement (2)

Equinix Inc. agreed to pay $41.5 million to end investor allegations that the digital infrastructure company misclassified recurring capital expenditures and inflated a key accounting metric.

The benefits fund serving as lead plaintiff sought preliminary approval of the proposed class settlement in the US District Court for the Northern District of California Tuesday. The deal would cover a class of those who acquired Equinix stock from May 3, 2019, through March 24, 2024.

The Uniformed Sanitationmen’s Association Compensation Accrual Fund negotiated a settlement that “recovers approximately 18% of the estimated reasonably recoverable common stock damages,” the motion said.

The accord ...