Switch And Data Hit With Shareholder Suit Over Sale

Law360, New York (December 8, 2009, 5:42 PM EST) -- A shareholder of Internet exchange company Switch and Data Facilities Co. Inc. has filed a class action lawsuit alleging the company and its executives violated the Securities Exchange Act by agreeing to sell the business to Equinix Inc. in a deal valued at $689 million.

The suit was filed Friday in the U.S. District Court for the Middle District of Florida, alleging that the company's managers agreed to sell the business for less than it was worth and that the company omitted pertinent information in documents...
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