Pomerantz LLP has filed a class action lawsuit against Cogent Communications Holdings, Inc. for alleged securities fraud, and investors have until September 21, 2026 to seek lead plaintiff appointment. The suit follows a series of disclosures between February 2025 and May 2026 that caused Cogent's stock to drop sharply, including a 56% decline in November 2025 after the company slashed its quarterly dividend by 98% from $1.015 to $0.02 per share and paused stock buybacks. Earlier, on February 27, 2025, Cogent revealed its annual revenue run rate was only $28 million and its backlog fell from 3,400 to 2,700, triggering a 10% stock drop. Subsequent quarterly reports showed weaker-than-expected wavelength revenue growth and customer connections, with the stock falling 7% on May 8, 2025, 19% and 13% on August 7 and 8, 2025, and 29% on both February 20, 2026 and May 4, 2026.
Cogent Communications Group IncClass action lawsuit for securities fraud and dividend cut/stock buyback pause causing sharp declines.
