NEW YORK, July 28, 2026 (GLOBE NEWSWIRE) — Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Cogent Communications Holdings, Inc. (NASDAQ: CCOI) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Cogent securities between February 29, 2024 and May 1, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/CCOI.
Cogent Case Details
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and financial condition. Specifically, the Complaint alleges that Defendants failed to disclose to investors:
| (1) | that the vast majority of the purported orders in Cogent’s optical wavelength backlog were unlikely to ever result in paid orders; |
| (2) | that many customers included in Cogent’s reported optical wavelength backlog were unable or unwilling to accept delivery, even if the Company was able to provision the requested services in a timely manner; |
| (3) | that, as a result, Cogent materially overstated customer demand for its optical wavelength services and misrepresented the true nature and value of its reported backlog; |
| (4) | that, because the reported backlog did not reflect genuine customer demand, Cogent was not on track to achieve its publicly stated revenue growth and margin targets, and those targets lacked a reasonable basis; |
| (5) | that Cogent lacked the financial capacity and business fundamentals necessary to sustain its long-standing dividend policy; |
| (6) | that Defendant Schaeffer’s extensive stock pledging activities created a material, undisclosed risk that he would be forced to sell substantial amounts of Cogent stock, further depressing the Company’s share price if the truth about Cogent’s backlog, customer demand, and financial condition became known; and |
| (7) | that, as a result of the foregoing, Defendants’ positive statements regarding Cogent’s business, financial outlook, growth prospects, and dividend policy were materially false and misleading and/or lacked a reasonable basis. |
What’s Next for Cogent Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/CCOI. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Cogent you have until September 21, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
No Cost to Cogent Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for Cogent Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace,” said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
Follow us for updates on LinkedIn, X, Facebook, or Instagram.
Contact Info
Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | info@bgandg.com
Attorney advertising.
Prior results do not guarantee similar outcomes.
