Rosen Law Firm has filed a class action lawsuit on behalf of purchasers of Cogent Communications Holdings, Inc. common stock between February 29, 2024 and May 1, 2026. The lawsuit alleges that defendants made materially false and misleading statements and failed to disclose that the vast majority of orders in Cogent's optical wavelength backlog were unlikely to result in paid orders, that many customers were unable or unwilling to accept delivery, and that Cogent was not on track to achieve its revenue and margin targets. It further claims that Cogent lacked the financial capacity to maintain its dividend policy and that there was an undisclosed risk that defendant David Schaeffer would be forced to sell large quantities of stock due to high-risk pledging activities. Investors who purchased shares during the class period have until September 21, 2026 to move the Court to serve as lead plaintiff.
Cogent Communications Group IncSecurities class action lawsuit alleging false statements and undisclosed risks.