Equinix, a data center developer, has agreed to a $41.5 million settlement in a class action lawsuit involving its stockholders. The class alleged that Equinix mischaracterized routine expenses as nonrecurring capital costs to qualify executives for bonuses of $150 million over five years. The Uniformed Sanitationmen’s Association Compensation Accrual Fund recently filed a motion for preliminary approval of the settlement, which involves parties who purchased Equinix stock between May 2019 and March 2024. The case is Uniformed Sanitationmen’s Association Compensation Accrual Fund v. Equinix Inc. et al., Case Number 3:24-cv-02656, U.S. District Court for the Northern District of California.

The pension fund filed suit against Equinix in May 2024, claiming that the company labelled mainte

See Full Page