{"success":true,"data":{"pressRelease":{"id":"134535","rtpr_id":"nGNXblzxSj","ticker":"CCOI","exchange":"NASDAQ","all_tickers":["CCOI"],"title":"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","author":"Globe Newswire","published_at":"2026-09-02T23:01:21.119Z","article_body":"SAN FRANCISCO, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro\nLLP alerts investors in Cogent Communications Holdings (NASDAQ: CCOI) that a\nsecurities class action has been filed after questions arose about a key\nmetric’s indication about actual growth prospects. The lawsuit seeks to\nrepresent investors who purchased or otherwise acquired Cogent common stock\nbetween February 29, 2024 and May 1, 2026.\n\nNational shareholders rights firm Hagens Berman is investigating legal claims\nthat Cogent and the other defendants violated the federal securities laws in\nconnection with its disclosures about the importance of wavelength backlog\nconvertible to recognizable revenues.\n\nThe firm encourages investors who suffered substantial losses to submit your\nlosses now\n(https://www.globenewswire.com/Tracker?data=DxjVplPgGANwTFGIZNUC9eGXPZSdR5IqnCTVmPAWpOxZhzTSj1DxUoqNHrsPQxQkk6XKJfFLnSzg9HcEirdjZ5HSzTTc_FifPUmFEfJHbXujQqJucxo3FkLKv-V8k2vv8YqZA0GNDCC3WppDh2AN8L3-pyAjvq8m4F2U9r2vHf9oWJQ1EahzlhgDjDOqESCS).\nPersons with knowledge who may be able to assist the investigation are invited\nto contact the firm’s attorneys.\n\nClass Period: Feb. 29, 2024 – May 1, 2026\nLead Plaintiff Deadline: Sept. 21, 2026\nVisit: www.hbsslaw.com/ccoi \nContact the Firm Now: CCOI@hbsslaw.com \n844-916-0895\n\nCogent Communications Holdings (CCOI) Securities Class Action:\n\nThe lawsuit challenges the propriety of Cogent’s disclosures about its\noptical wavelength “backlog,” assurances that this metric was somehow an\nindicator of its expected growth and, by extension, its reasonably expected\nrevenue growth and stock’s value.\n\nThe complaint alleges that Cogent’s wavelength backlog was an illusory\ntouted measure and unlikely to ever convert to revenue, that large quantities\nof customers in the backlog were unable or unwilling to accept delivery even\nif Cogent was in a position to provision the wavelength in a timely manner and\nthat, as a result, the company materially misrepresented customer demand for\nits optical wavelength services and the nature of its backlog.\n\nCracks in Cogent’s early Class Period narrative began to emerge on February\n27, 2025. That day, Cogent reported disappointing Q4 and FY 2024 financial\nresults and revealed a 20% sequential decline in its backlog and that it\nremoved 1500 orders because many were over one year old. Surprised, the market\nsent the price of the stock steeply lower.\n\nThen, on May 8, 2025, the company reported disappointing Q1 2025 results and\nsaid it had more installation capacity than orders ready to be installed.\nManagement said, “we built a funnel of wavelength opportunities with no\ndefined installation window […] [a]nd as expected, the majority of that\nfunnel fell out.” The market’s reaction was similar to February.\n\nIn apparent recognition that investors lost faith in the wavelength backlog\nstory, the company abruptly ceased providing backlog data on February 20,\n2026, when it reported Q4 and FY 2025 results. Again, the market sent the\nprice of Cogent shares steeply lower.\n\nFinally, on May 4, 2026, Cogent reported its Q1 2026 results that again\ndisappointed on wavelength revenue and customer connections. Management\nconceded “[o]n wavelength installs, we have seen a variety of customers\npushing out their acceptance[]” and “[w]e actually provisioned more\nwavelengths in the quarter than we did in the previous quarter, but the\ncustomers did not accept them.”\n\n“We’re focused on whether Cogent and its management intentionally promoted\nwavelength backlog and funnel as a way to misrepresent both the company’s\nactual ability to convert them to earned revenues and the real company-centric\nwavelength demand,” said Reed Kathrein\n(https://www.globenewswire.com/Tracker?data=zd32k0zK3FwCousAw8qXoEgNXHFwe8FyLGQDHBWlbL_fVdVKhTbVSLy_xq46IPUnYmbKLi4dsqdEfFg_holVJLKuuE-CgLiG8gfYJNoiSzeN4kxXLkEATXpHmpoGg6P_),\nthe Hagens Berman partner leading the firm’s investigation.\n\nIf you invested in Cogent and have substantial losses, or have knowledge that\nwill assist the firm’s investigation, submit your losses now\n(https://www.globenewswire.com/Tracker?data=DxjVplPgGANwTFGIZNUC9eGXPZSdR5IqnCTVmPAWpOxfLIKv_1dQ6AihUuiFK6oiWRFTk5t3KBfni4GDY2DoAw4UQpYfYuDo672LMFnFxjqxwp45vK9BRq3bz--qnKBt-VN5CgIt2mozgB9GEZjBtLNNhpuCRsjPoST17x74rp3Lx-uSe0OksTEm3xO6pEDB)\n»\n\nIf you’d like more information and answers to other frequently asked\nquestions about the Cogent case and the firm’s investigation, read more\n(https://www.globenewswire.com/Tracker?data=j-ViC25M05piJpP0YyE8Tm82-jdg7pqri2Em3GqhpTa4EfiAGWBDIWH81DG9sF29CKrZqUTcOzJM-yAS0J1tGdQk2dyj4zmrZ7w1FCZWu-MibvdzxL9pRKU5v2Gvatl9ryYgEVCdznyt9VbyFCS4a5NhouT5wx-MRJ_uk9JT_1iiGoLPw9oF3dkAxqs-Jk9p)\n»\n\nWhistleblowers: Persons with non-public information regarding Cogent should\nconsider their options to help in the investigation or take advantage of the\nSEC Whistleblower program. Under the new program, whistleblowers who provide\noriginal information may receive rewards totaling up to 30 percent of any\nsuccessful recovery made by the SEC. For more information, call Reed Kathrein\nat 844-916-0895 or email CCOI@hbsslaw.com.\n\nAbout Hagens Berman\n(https://www.globenewswire.com/Tracker?data=LCzT93rdA9lQdTILrswd6WYh83579CWCCN3wrr-SnSIUa-fG0Es1BOQXUSEr5P6IgovFw9_-3hePdWpLFGL96kXEIuB0caTrwxGvHgovR_4=)\nHagens Berman is a global plaintiffs’ rights complex litigation firm\nfocusing on corporate accountability. The firm is home to a robust practice\nand represents investors as well as whistleblowers, workers, consumers and\nothers in cases achieving real results for those harmed by corporate\nnegligence and other wrongdoings. Hagens Berman’s team has secured more than\n$2.9 billion in this area of law. More about the firm and its successes can be\nfound at hbsslaw.com\n(https://www.globenewswire.com/Tracker?data=-CpbMeqhj9grs4kiaQjzYj2Z6EA7zZ38dSTyFuvAhrxY4NEBtMmc3PBDskWzt-6DIjwOL2KZ8DsNIK2t_QwuHw==).\nFollow the firm for updates and news at @ClassActionLaw. \n\nAttorney Advertising. Prior results do not guarantee a similar outcome in any\nfuture case.\n\nContact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300,\nBerkeley, CA 94710, 844-916-0895, CCOI@hbsslaw.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c81cd72-0ffb-43c9-9d0f-b622c3e44e43)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXblzxSj","title":"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","author":"Globe Newswire","ticker":"CCOI","created":"2026-09-02T23:01:21.119Z","tickers":["CCOI"],"exchange":"NASDAQ","article_body":"SAN FRANCISCO, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro\nLLP alerts investors in Cogent Communications Holdings (NASDAQ: CCOI) that a\nsecurities class action has been filed after questions arose about a key\nmetric’s indication about actual growth prospects. The lawsuit seeks to\nrepresent investors who purchased or otherwise acquired Cogent common stock\nbetween February 29, 2024 and May 1, 2026.\n\nNational shareholders rights firm Hagens Berman is investigating legal claims\nthat Cogent and the other defendants violated the federal securities laws in\nconnection with its disclosures about the importance of wavelength backlog\nconvertible to recognizable revenues.\n\nThe firm encourages investors who suffered substantial losses to submit your\nlosses now\n(https://www.globenewswire.com/Tracker?data=DxjVplPgGANwTFGIZNUC9eGXPZSdR5IqnCTVmPAWpOxZhzTSj1DxUoqNHrsPQxQkk6XKJfFLnSzg9HcEirdjZ5HSzTTc_FifPUmFEfJHbXujQqJucxo3FkLKv-V8k2vv8YqZA0GNDCC3WppDh2AN8L3-pyAjvq8m4F2U9r2vHf9oWJQ1EahzlhgDjDOqESCS).\nPersons with knowledge who may be able to assist the investigation are invited\nto contact the firm’s attorneys.\n\nClass Period: Feb. 29, 2024 – May 1, 2026\nLead Plaintiff Deadline: Sept. 21, 2026\nVisit: www.hbsslaw.com/ccoi \nContact the Firm Now: CCOI@hbsslaw.com \n844-916-0895\n\nCogent Communications Holdings (CCOI) Securities Class Action:\n\nThe lawsuit challenges the propriety of Cogent’s disclosures about its\noptical wavelength “backlog,” assurances that this metric was somehow an\nindicator of its expected growth and, by extension, its reasonably expected\nrevenue growth and stock’s value.\n\nThe complaint alleges that Cogent’s wavelength backlog was an illusory\ntouted measure and unlikely to ever convert to revenue, that large quantities\nof customers in the backlog were unable or unwilling to accept delivery even\nif Cogent was in a position to provision the wavelength in a timely manner and\nthat, as a result, the company materially misrepresented customer demand for\nits optical wavelength services and the nature of its backlog.\n\nCracks in Cogent’s early Class Period narrative began to emerge on February\n27, 2025. That day, Cogent reported disappointing Q4 and FY 2024 financial\nresults and revealed a 20% sequential decline in its backlog and that it\nremoved 1500 orders because many were over one year old. Surprised, the market\nsent the price of the stock steeply lower.\n\nThen, on May 8, 2025, the company reported disappointing Q1 2025 results and\nsaid it had more installation capacity than orders ready to be installed.\nManagement said, “we built a funnel of wavelength opportunities with no\ndefined installation window […] [a]nd as expected, the majority of that\nfunnel fell out.” The market’s reaction was similar to February.\n\nIn apparent recognition that investors lost faith in the wavelength backlog\nstory, the company abruptly ceased providing backlog data on February 20,\n2026, when it reported Q4 and FY 2025 results. Again, the market sent the\nprice of Cogent shares steeply lower.\n\nFinally, on May 4, 2026, Cogent reported its Q1 2026 results that again\ndisappointed on wavelength revenue and customer connections. Management\nconceded “[o]n wavelength installs, we have seen a variety of customers\npushing out their acceptance[]” and “[w]e actually provisioned more\nwavelengths in the quarter than we did in the previous quarter, but the\ncustomers did not accept them.”\n\n“We’re focused on whether Cogent and its management intentionally promoted\nwavelength backlog and funnel as a way to misrepresent both the company’s\nactual ability to convert them to earned revenues and the real company-centric\nwavelength demand,” said Reed Kathrein\n(https://www.globenewswire.com/Tracker?data=zd32k0zK3FwCousAw8qXoEgNXHFwe8FyLGQDHBWlbL_fVdVKhTbVSLy_xq46IPUnYmbKLi4dsqdEfFg_holVJLKuuE-CgLiG8gfYJNoiSzeN4kxXLkEATXpHmpoGg6P_),\nthe Hagens Berman partner leading the firm’s investigation.\n\nIf you invested in Cogent and have substantial losses, or have knowledge that\nwill assist the firm’s investigation, submit your losses now\n(https://www.globenewswire.com/Tracker?data=DxjVplPgGANwTFGIZNUC9eGXPZSdR5IqnCTVmPAWpOxfLIKv_1dQ6AihUuiFK6oiWRFTk5t3KBfni4GDY2DoAw4UQpYfYuDo672LMFnFxjqxwp45vK9BRq3bz--qnKBt-VN5CgIt2mozgB9GEZjBtLNNhpuCRsjPoST17x74rp3Lx-uSe0OksTEm3xO6pEDB)\n»\n\nIf you’d like more information and answers to other frequently asked\nquestions about the Cogent case and the firm’s investigation, read more\n(https://www.globenewswire.com/Tracker?data=j-ViC25M05piJpP0YyE8Tm82-jdg7pqri2Em3GqhpTa4EfiAGWBDIWH81DG9sF29CKrZqUTcOzJM-yAS0J1tGdQk2dyj4zmrZ7w1FCZWu-MibvdzxL9pRKU5v2Gvatl9ryYgEVCdznyt9VbyFCS4a5NhouT5wx-MRJ_uk9JT_1iiGoLPw9oF3dkAxqs-Jk9p)\n»\n\nWhistleblowers: Persons with non-public information regarding Cogent should\nconsider their options to help in the investigation or take advantage of the\nSEC Whistleblower program. Under the new program, whistleblowers who provide\noriginal information may receive rewards totaling up to 30 percent of any\nsuccessful recovery made by the SEC. For more information, call Reed Kathrein\nat 844-916-0895 or email CCOI@hbsslaw.com.\n\nAbout Hagens Berman\n(https://www.globenewswire.com/Tracker?data=LCzT93rdA9lQdTILrswd6WYh83579CWCCN3wrr-SnSIUa-fG0Es1BOQXUSEr5P6IgovFw9_-3hePdWpLFGL96kXEIuB0caTrwxGvHgovR_4=)\nHagens Berman is a global plaintiffs’ rights complex litigation firm\nfocusing on corporate accountability. The firm is home to a robust practice\nand represents investors as well as whistleblowers, workers, consumers and\nothers in cases achieving real results for those harmed by corporate\nnegligence and other wrongdoings. Hagens Berman’s team has secured more than\n$2.9 billion in this area of law. More about the firm and its successes can be\nfound at hbsslaw.com\n(https://www.globenewswire.com/Tracker?data=-CpbMeqhj9grs4kiaQjzYj2Z6EA7zZ38dSTyFuvAhrxY4NEBtMmc3PBDskWzt-6DIjwOL2KZ8DsNIK2t_QwuHw==).\nFollow the firm for updates and news at @ClassActionLaw. \n\nAttorney Advertising. Prior results do not guarantee a similar outcome in any\nfuture case.\n\nContact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300,\nBerkeley, CA 94710, 844-916-0895, CCOI@hbsslaw.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c81cd72-0ffb-43c9-9d0f-b622c3e44e43)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-02T23:01:21.159916417Z","server_sent_at_ms":1788390081159},"received_at":"2026-09-02T23:01:21.220Z","source_url":null},"analysis":{"id":"123425","press_release_id":"134535","analysis_json":{"industry":{"label":"Diversified Telecommunication Services","sector":"Communication Services"},"redFlags":["securities class action filed against CCOI alleging wavelength backlog disclosures were materially misleading","release states Cogent ceased providing backlog data with Q4/FY 2025 results (Feb. 20, 2026)","approximately 29% stock decline referenced in connection with backlog/demand disclosures"],"eventType":"legal_litigation","narrative":"Hagens Berman Sobol Shapiro is soliciting CCOI investors for a newly filed securities class action covering purchases of Cogent common stock between Feb. 29, 2024 and May 1, 2026, with a Sept. 21, 2026 lead plaintiff deadline.\n\nThe complaint alleges Cogent touted its optical wavelength backlog as an indicator of growth when it was unlikely to convert to revenue; the release cites a 20% sequential backlog decline and removal of 1,500 stale orders disclosed Feb. 27, 2025, and the company's halt of backlog disclosures on Feb. 20, 2026.\n\nThis is law-firm marketing wired under the firm's own name rather than an issuer disclosure — it adds no new company information beyond referencing an approximately 29% stock decline tied to the backlog narrative.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation — suppress posting; monitor CCOI issuer filings and the court docket for material developments instead."},"keyFigures":{"customDimensions":{"class_period":"Feb. 29, 2024 - May 1, 2026","orders_removed":1500,"stock_decline_pct":"approximately 29%","lead_plaintiff_deadline":"Sept. 21, 2026","whistleblower_reward_cap":"up to 30 percent of SEC recovery","backlog_sequential_decline":"20%"}},"quotedText":"[w]e actually provisioned more wavelengths in the quarter than we did in the previous quarter, but the customers did not accept them.","namedEntities":{"people":[{"name":"Reed Kathrein","role":"Hagens Berman partner leading the investigation"}],"products":["optical wavelength services","wavelength backlog (disclosure metric)"],"companies":[{"name":"Cogent Communications Holdings","ticker":"CCOI","relationship":"defendant / named issuer in securities class action"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm issuing the solicitation"}],"dollarAmounts":[{"amount":"$2.9 billion","context":"cumulative recoveries secured by Hagens Berman in this area of law (firm marketing figure)"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation issued under Hagens Berman's own name with standard 'submit your losses now' / contact CTAs. No certified class, no settlement, and no new disclosure from Cogent itself; the filing recaps previously reported backlog and stock-decline events."},"tickerRelevance":{"others":[],"primary":"CCOI"},"globalImportance":18,"audienceRelevance":18,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false,"retailFavoriteNote":"CCOI has an income-oriented retail following, but solicitation-path caps apply","underlyingAllegationSeverity":"moderate — alleged demand/backlog misrepresentation with real prior stock declines"}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Hagens Berman Sobol Shapiro is soliciting CCOI investors for a newly filed securities class action covering purchases of Cogent common stock between Feb. 29, 2024 and May 1, 2026, with a Sept. 21, 2026 lead plaintiff deadline.\n\nThe complaint alleges Cogent touted its optical wavelength backlog as an indicator of growth when it was unlikely to convert to revenue; the release cites a 20% sequential backlog decline and removal of 1,500 stale orders disclosed Feb. 27, 2025, and the company's halt of backlog disclosures on Feb. 20, 2026.\n\nThis is law-firm marketing wired under the firm's own name rather than an issuer disclosure — it adds no new company information beyond referencing an approximately 29% stock decline tied to the backlog narrative.","key_figures":{"customDimensions":{"class_period":"Feb. 29, 2024 - May 1, 2026","orders_removed":1500,"stock_decline_pct":"approximately 29%","lead_plaintiff_deadline":"Sept. 21, 2026","whistleblower_reward_cap":"up to 30 percent of SEC recovery","backlog_sequential_decline":"20%"}},"named_entities":{"people":[{"name":"Reed Kathrein","role":"Hagens Berman partner leading the investigation"}],"products":["optical wavelength services","wavelength backlog (disclosure metric)"],"companies":[{"name":"Cogent Communications Holdings","ticker":"CCOI","relationship":"defendant / named issuer in securities class action"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm issuing the solicitation"}],"dollarAmounts":[{"amount":"$2.9 billion","context":"cumulative recoveries secured by Hagens Berman in this area of law (firm marketing figure)"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-02T23:02:39.689Z","global_importance":18,"audience_relevance":18,"importance_components":{"tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false,"retailFavoriteNote":"CCOI has an income-oriented retail following, but solicitation-path caps apply","underlyingAllegationSeverity":"moderate — alleged demand/backlog misrepresentation with real prior stock declines"}},"durationMs":78461,"modelName":"glm-4.7"}}