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

Cogent Communications Holdings faces a securities class action lawsuit alleging the company materially misrepresented its optical wavelength backlog as an indicator of future revenue growth. The complaint claims the backlog was largely illusory, with customers unable or unwilling to accept delivery. Stock declined approximately 29% after the company revealed a 20% sequential backlog decline, removed 1,500 old orders, and eventually ceased reporting backlog metrics entirely.