Equinix Shares Rise 0.5% Despite 423rd-Ranked $230M Volume as $41.5M Settlement Closes Multi-Year Accounting Probe

On August 19, 2025, Equinix (EQIX) traded up 0.50% despite a 37.17% decline in daily trading volume to $230 million, ranking 423rd in market activity. The stock's performance follows a $41.5 million settlement with investors over historical financial reporting practices revealed in a June 2025 agreement.

The settlement resolves allegations that Equinix concealed internal control deficiencies between 2015 and 2021 by misclassifying capital expenses and prematurely recognizing nonrefundable fees. These practices artificially inflated key metrics like Adjusted Funds From Operations (AFFO), which the company had long emphasized as evidence of financial discipline. Internal audits and whistleblower disclosures later exposed these accounting irregularities, prompting a 13% stock plunge when material weaknesses were disclosed in March 2023.

Investors argued the misleading reports violated their right to accurate information. While the final settlement terms remain pending, the agreement allows affected parties to file claims. The resolution marks a procedural closure to a multi-year scrutiny period that reshaped perceptions of the REIT's financial transparency.

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