
Kaplan Fox Notifies Cogent Communications Holdings, Inc. (CCOI) Investors of a Securities Class Action Deadline on September 21, 2026
Newsfile Corp
Published: Aug 02, 2026, 03:20 AM GMT+9
Sentiment Analysis
New York, New York--(Newsfile Corp. - August 1, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Cogent Communications Holdings, Inc. ("Cogent" or the "Company") (NASDAQ: CCOI) on behalf of investors that purchased or otherwise acquired Cogent securities between February 29, 2024 and May 1, 2026 (the "Class Period"). According to the complaint, throughout the Class Period, "defendants represented that demand for optical wavelengths in Cogent's newly acquired wireline business was exceptionally strong and rapidly growing." However, according to the complaint and unknown to investors, "the order backlog that defendants routinely publicized during the Class Period was, by and large, illusory - a fact later confirmed when most of the purported backlog never turned into paying customers even after the Company's network had been fully repurposed." Further, according to the complaint, on May 4, 2026 the CEO and Chairman of the Board David Schaeffer conceded "[o]n wavelength installs, we have seen a variety of customers pushing out their acceptance of wavelengths." Following this the news, the price of Cogent common stock fell $6.79 per share, or 29% to close at $16.37 per share on May 4, 2026.
Source: Newsfile Corp
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