Equinix Shareholder Suit Dropped Against Execs Over Accounting

A shareholder dropped his lawsuit in a federal court in California against Equinix Inc. management over its accounting practices so that he can take his claims to Delaware.

The shareholder derivative action—filed originally in the US District Court for the Northern District of California earlier this year—said Equinix misclassified recurring capital expenditures for years, misleading stockholders on a key metric of the real estate investment trust’s value. Current and former leaders harmed Equinix by causing it to mislead investors, shareholder Boris Benkovski said. Judge Vince Chhabria ordered the case closed Tuesday at Benkovski’s request.

• Benkovski said he wanted to ...