NEW ORLEANS, July 30, 2026 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 21, 2026 to file lead plaintiff applications in a securities class action lawsuit against Cogent Communications Holdings, Inc. (NasdaqGS: CCOI) (“Cogent” or the “Company”), if they purchased the Company’s shares between February 29, 2024 and May 1, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Columbia.
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Cogent investors should visit us at https://claimsfiler.com/cases/nasdaqgs-ccoi/ or call toll-free (833) 538-3601. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Cogent and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the most of the purported orders in the Company’s optical wavelength “backlog” were unlikely to ever result in a paid order; (ii) many of the “backlog” customers were unable or unwilling to accept delivery even if timely provision was possible; (iii) as a result of (i)-(ii) above, the Company had materially misrepresented demand for its optical wavelength services and the nature of its “backlog” of wavelength orders; (iv) as a result of (i)-(iii) above, the Company was not on track to achieve its revenue and margin targets and such targets lacked a reasonable basis in objective fact; (v) the Company did not have the financial capacity or business fundamentals to maintain its long-standing dividend policy; and (vi) there was a material, undisclosed risk that Cogent Founder, CEO and Chairman, David Schaeffer, would be forced to sell vast quantities of Cogent stock as a result of his high-risk pledging activities, thereby further depressing the price of the Company’s stock in the event the truth regarding its “backlog,” demand issues, and financial position were ever revealed.
The case is City of Southfield Fire and Police Retirement System v. Cogent Communications Holdings, Inc., No. 26-cv-02609.
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