CCOI CLASS ACTION NOTICE: Faruqi & Faruqi, LLP Reminds Cogent Investors of Securities Class Action Lawsuit Deadline on September 21, 2026

Faruqi & Faruqi, LLP is investigating potential claims against Cogent Communications Holdings, Inc. ("Cogent" or the "Company") (NASDAQ: CCOI) and reminds investors of the September 21, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

The complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (a) that the vast majority of the purported orders in Cogent's optical wavelength "backlog" were unlikely to ever result in a paid order; (b) that large quantities of the customers in Cogent's purported optical wavelength "backlog" were unable or unwilling to accept delivery even if Cogent was in a position to provision the wavelength in a timely manner; (c) that, as a result of (a)-(b) above, defendants had materially misrepresented customer demand for Cogent's optical wavelength services and the nature of the Company's purported "backlog" of wavelength orders; (d) that, as a result of (a)-(c) above, Cogent was not on track to achieve its revenue and margin targets and such targets lacked a reasonable basis in objective fact; (e) that Cogent did not have the financial capacity or business fundamentals to maintain its long-standing dividend policy; and (f) that there was a material, undisclosed risk that defendant 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 Cogent stock in the event the truth regarding Cogent's "backlog," demand issues, and financial position were ever revealed.

On February 27, 2025, Cogent issued a release announcing its fourth quarter 2024 and year-end 2024 financial results, reporting that its annual revenue run rate was only $28 million — a far cry from the 2028 target of $500 million — and its backlog declined sequentially from 3,400 in the prior quarter to 2,700 in the fourth quarter, with growth in wavelength connections slowing from 287 net additions in 3Q24 to 77 net additions in 4Q24. On this news, Cogent's stock price fell $7.65, or 10%, on February 27, 2025, on abnormally high volume.

On May 8, 2025, Cogent issued a release announcing its first quarter 2025 financial results, with defendants admitting that 90% of the 3,400 backlog figure quoted with 3Q24 results "fell out" and that customers were not ready to accept delivery even though Cogent was ready to provision them. On this news, Cogent's stock price fell $3.91, or 7%, to close on May 8, 2025, on abnormally high volume.

On August 7, 2025, Cogent issued a release announcing its second quarter 2025 financial results, reporting that the Company only added 147 net connections during the quarter (far less than the claimed 4% to 5% monthly conversion rate), and defendant Schaeffer stated that Cogent had installed "several hundred" additional wavelengths to customers who were not yet being billed because the customers were "surprised" by Cogent's quick provisioning times and were not able or willing to accept the service, with Cogent's g...