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

A securities class action has been filed against Cogent Communications Holdings (NASDAQ: CCOI) for allegedly misrepresenting its optical wavelength backlog as an indicator of future revenue growth. The lawsuit covers investors from February 29, 2024 to May 1, 2026. The company's stock declined approximately 29% after revelations that the backlog was largely illusory, with customers unable or unwilling to accept delivery. Cogent subsequently removed 1,500 old orders and ceased reporting backlog data in February 2026.