BACKDATED STOCK OPTIONS
 

Shapiro Haber & Urmy LLP Now Investigating Stock Options Backdating Practices By Equinix

Shapiro Haber & Urmy LLP is currently investigating stock options backdating practices at over 100 companies, including Equinix.

Regarding Equinix, as reported in The Wall Street Journal, "The Foster City, Calif., telecom company said on June 12 that it received an informal inquiry from the SEC relating to stock-option grants and pricing. Equinix said the SEC probe comes after it initiated an independent inquiry following the release of a Center for Financial Research and Analysis report that highlighted a questionable 2001 grant. On June 29, the company announced that it received a grand jury subpoena from the U.S. Attorney for the Northern District of California, requesting documents relating to its stock option grants and practices. The company said on Aug. 15 that the internal audit found no "intentional misconduct" regarding stock options, and therefore no restatement is necessary.  On Dec. 6, the company said received formal notification that an investigation of its stock option granting practices by the SEC has been terminated. On January 17, 2007 Equinix said the U.S. Attorney's Office for the Northern District of California has withdrawn a grand jury subpoena.”

If you are a current stockholder in Equinix and would like to learn about your legal rights in seeking to remedy improper options backdating at the company, please click here or call 800-287-8119 to contact our paralegal, Victoria Bird.  Our initial consultation and case assessment will be done at no charge or obligation to you.

Shapiro Haber & Urmy LLP is a leading force in bringing lawsuits on behalf of shareholders who own stock in corporations implicated in the rampant and ongoing stock options backdating scandal.  Led by attorneys Edward F. Haber and Michelle H. Blauner, our firm has already filed numerous cases, in both state and federal courts, concerning the improper backdating of stock options granted to officers, directors, and executives who appear to have used backdated stock options to create for themselves tens, or even hundreds, of millions of dollars in profit and unrealized gain at the direct expense of their corporations.

To learn more about our efforts targeting unlawful corporate stock options practices at corporations nationwide, please click here to view our main stock options backdating webpage, which contains detailed explanations of stock options, option backdating, and why option backdating can be illegal.  Also featured are complaints filed by our firm in other stock options backdating cases, as well as a full list of all the corporations we are currently investigating.