Cogent Communications Holdings Securities Fraud Class Action Result of Undisclosed Demand and Backlog Issues and approximately 29% Stock Decline - Investors may Contact Reed Kathrein at Hagens Berman Sobol Shapiro LLP
Hagens Berman Sobol Shapiro LLP issued a shareholder-solicitation notice announcing a securities class action against Cogent Communications Holdings covering purchasers between Feb. 29, 2024 and May 1, 2026, with a Sept. 21, 2026 lead plaintiff deadline. The complaint alleges Cogent's touted optical wavelength backlog was unlikely to convert to revenue, citing a 20% sequential backlog decline and 1,500 removed orders disclosed in February 2025 and the company's decision to stop providing backlog data with its February 2026 results.
Key figures
- Class period
- Feb. 29, 2024 - May 1, 2026
- Orders removed
- 1500
- Stock decline pct
- approximately 29%
- Lead plaintiff deadline
- Sept. 21, 2026
- Backlog sequential decline pct
- 20%
AI analysis
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