Equinix Faces Derivative Suit Over $700M S&D Deal

Law360, New York (March 10, 2011, 5:51 PM EST) -- Equinix Inc. and several top executives have been slapped with a shareholder derivative action in California accusing the data center and Internet exchange provider of wasting corporate assets in connection with the company's $700 million acquisition of Switch & Data Facilities Co. Inc.

The suit, filed Tuesday in the Superior Court of the State of California, County of San Francisco, accuses the individual defendants — including Equinix CEO Stephen Smith, CFO Keith Taylor and several of the company's board members — of knowingly concealing information from...
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