Faruqi & Faruqi Reminds Investors of Cogent Class Action Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, is reminding investors in Cogent Communications Holdings, Inc. (NASDAQ: CCOI) of an important deadline as the company faces a securities class action lawsuit. The firm is investigating potential claims against Cogent and its executives, alleging that the company and its officers made false and misleading statements about the company's optical wavelength backlog and financial performance.

According to Faruqi & Faruqi, the lawsuit alleges that Cogent and its executives misrepresented the nature and strength of the company's optical wavelength backlog. The complaint states that the vast majority of the purported orders in the backlog were unlikely to result in paid revenue, and that large numbers of customers were unable or unwilling to accept delivery of the services. As a result, the company's publicly stated revenue and margin targets were said to lack a reasonable basis, and the firm's ability to maintain its dividend policy was overstated.

The lawsuit further alleges that there was a material, undisclosed risk that a senior executive, Schaeffer, could be forced to sell vast quantities of Cogent stock due to high-risk pledging activities, which could further depress the company's stock price. When corrective disclosures were made in May 2025, it was admitted that approximately 90% of a previously reported backlog figure had "fallen out," leading to a significant decline in the company's stock price and causing losses for investors who purchased shares at artificially inflated prices.

Faruqi & Faruqi, LLP is encouraging investors who purchased or acquired securities in Cogent between February 29, 2024, and May 1, 2026, to contact the firm directly to discuss their legal rights. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995 and is currently investigating potential claims against Cogent.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members and directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP is also encouraging anyone with information regarding Cogent's conduct to contact the firm, including whistleblowers, former employees, shareholders, and others. To learn more about the Cogent class action, investors can visit the firm's website at www.faruqilaw.com/CCOI or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

The deadline for investors to seek the role of lead plaintiff in the federal securities class action is September 21, 2026.