◆ NeutralCCOI
Cogent Communications Holdings Securities Fraud Class Action Result of Undisclosed Demand and Backlog Issues and approximately 29% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
GlobeNewswire Inc.·
Cogent Communications Holdings (CCOI) faces a securities fraud class action lawsuit for allegedly failing to disclose material information about its optical wavelength backlog and demand issues during February 29, 2024 to May 1, 2026. The company's stock declined approximately 29%. Investors who purchased shares during this period have until September 21, 2026 to file lead plaintiff applications. Allegations include misrepresentation of backlog orders, customer delivery issues, unachievable revenue targets, and undisclosed risks related to CEO David Schaeffer's stock pledging activities.
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