NEW YORK, July  29, 2026  (GLOBE NEWSWIRE) -- Kaplan Fox &amp; Kilsheimer LLP announces that a class action lawsuit has been filed against Cogent Communications Holdings, Inc. (&#34;Cogent&#34; or the &#34;Company&#34;)

CCOI

Kaplan Fox Encourages Cogent Communications Holdings, Inc. (NASDAQ: CCOI) Investors with Significant Losses to Contact the Firm Before September 21, 2026

Cogent Faces Securities Class Action Over Backlog Illusions

<section class="insight" data-version="1">
 <section data-block="information">
 <h3>Information</h3>
 NEW YORK, July 29, 2026 (GLOBE NEWSWIRE) -- Kaplan Fox &amp;amp; Kilsheimer LLP announces that a class action lawsuit has been filed against Cogent Communications Holdings, Inc. (&amp;#34;Cogent&amp;#34; or the &amp;#34;Company&amp;#34;)
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 <section data-block="ai-summary-paragraph">
 <h3>AI Summary</h3>
 A securities class action has been filed against Cogent Communications (CCOI) alleging misrepresentation of demand for optical wavelengths and an illusory backlog between Feb 29, 2024 and May 1, 2026. After the CEO acknowledged customer delays on wavelength installs, Cogent’s shares dropped 29% to $16.37 on May 4, 2026, signaling potential ongoing downside risk and litigation costs.
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 <section data-block="ai-summary-bullets">
 <h3>Key Points</h3>
 <ul><li>Kaplan Fox files securities class action against Cogent (CCOI).</li><li>Alleges Cogent backlog was illusory and misrepresented optical-wavelength demand.</li><li>CEO admits wavelength install delays; Cogent stock falls 29% on May 4, 2026.</li><li>Case claims most backlog never converted to paying customers.</li></ul>
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 <section data-block="companies-mentioned">
 <h3>Companies Mentioned</h3>
 <ul><li>Cogent Communications Holdings, Inc. (CCOI): Subject of the class action; litigation risk and potential sentiment impact for shares.</li><li>Kaplan Fox &amp; Kilsheimer LLP (N/A): Plaintiff counsel; no direct market exposure but acts as catalyst for case progression.</li></ul>
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 <section data-block="category">
 <h3>Legal</h3>
 Category: Legal. The article revolves around a securities lawsuit against Cogent, a direct driver of sentiment and potential stock volatility; fits as a material legal catalyst in the near term.
 </section>

 <section data-block="market-moving">
 <h3>Market-Moving</h3>
 <ul><li>Cogent stock fell 29% to $16.37 on May 4, 2026.</li><li>Backlog allegations imply weaker revenue quality.</li><li>Potential settlements or higher litigation costs could pressure margins.</li><li>Case may attract more investor scrutiny and media attention.</li></ul>
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 <section data-block="key-facts">
 <h3>Key Facts</h3>
 <ul><li>Class Period: February 29, 2024 – May 1, 2026.</li><li>May 4, 2026: CEO David Schaeffer acknowledged delays on wavelength installs.</li><li>Cogent stock closed at $16.37, down 29%.</li><li>Lawsuit filed by Kaplan Fox &amp; Kilsheimer LLP.</li><li>Deadline to move for lead plaintiff: September 21, 2026.</li></ul>
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 <section data-block="trading-thesis">
 <h3>Trading Thesis</h3>
 Near-term bearish bias likely until case milestones; monitor settlement news over weeks to months.
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link>NEW YORK, July 29, 2026 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=pHg-IkMw1jsnfc8uoT1dEW9JtikrD_Oq85IIS99BgRUoi_d6qKjNEQAEJVmgvpllJ-pskPADFibZPRmnsQxpQT-aeEsfXzkiXtN3U2tJNtehAc_tEm4GbBZWHSzozvyS04ZAXmKgpzx3MOVlyYw03ctCkuZG9L4FdVCEjROupzQoqbMJL5XpdtFhTTQ2FSLbG5dhkhG3NEw57s9T7Gk785Mf1AJG5gJxUTfIy_oIDWQ0xGKajOniiqG_OqSCiDCE" rel="nofollow" target="_blank">Kaplan Fox &amp; Kilsheimer LLP</a> announces that a class action lawsuit has been filed against Cogent Communications Holdings, Inc. ("Cogent" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CCOI">CCOI</a>) on behalf of investors that purchased or otherwise acquired Cogent securities between February 29, 2024 and May 1, 2026 (the "Class Period"). <a href="https://www.globenewswire.com/Tracker?data=TnBZy7dgh6QFb5o19U4DBOesBT2Ope4Bi7B7yHk2VCkx4U7W_tkyJ6I9dlthk8OV2NiPAA2WN3zu7nDOxSwGlBLPJ0Tg6h__JlCC200HwGyV2KrA6RP0O3SscJW-oNn5E8fxPx9CTl2yTNx-psTDkZpC-1jCJVAIuR4BAFZcukIjHsOZBrE74ylMec6O3K-NOXO-v6M0lbIyGx6W_JA1g9B2aPpEHk96jNwN3Bp37Esj0ZyFGOOnqf7P2vQiTDExvSq2izVnyrNhtxqhh461Q1G8aF5pi3ZI9JndQmMFzRV9vY3G9fkJiZx2RyWQXDqMusqTMHmHsT-6E2TEp78K9A==" rel="nofollow" target="_blank">CLICK HERE TO JOIN THE CASE</a> If you are an investor in Cogent and have suffered losses, you may <a href="https://www.globenewswire.com/Tracker?data=TnBZy7dgh6QFb5o19U4DBJ44K2BGki2ZffM_0LaG1xR_O8JhnyxbTbmuC93fKNazDyBfogpDq8bcjWAmmYWqFRUkYKYnJ5HEEgIJQu554lNNYVZ2eXvKhu9QN5ldyDO2j8NNIfvyKi5bBIrn-jUhGFKtd-tpct_Rl1OLmfvRPo4xzokf6oLC45d34yKt5gw6ZvsBRMkHMjzWhbzmUGyzmwiprOJP044ZRBku89fc1ngINk7GeZXZ19rxy2lvehf-z4SEyleZCZlO8ugUxp8ZhP6wdbXxJDkTxb_QVF0X7wnTX6yN19K3Uw0doumNHIyh" rel="nofollow" target="_blank">CLICK HERE</a> to contact us. You may also contact Kaplan Fox by emailing <a href="https://www.globenewswire.com/Tracker?data=_gS7oAj83YgUp6buVCken9IesFV1kbwoLirhlOCPev-iwdBkm-2lqhBQR9yCKZflobvUhHckWSX6zBL364fw8KH-VPRK_2BMu3k56RMHwMc=" rel="nofollow" target="_blank">pmayer@kaplanfox.com</a> or by calling (646) 315-9003. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than September 21, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery. According to the complaint, throughout the Class Period, "defendants represented that demand for optical wavelengths in Cogent’s newly acquired wireline business was exceptionally strong and rapidly growing." However, according to the complaint and unknown to investors, "the order backlog that defendants routinely publicized during the Class Period was, by and large, illusory – a fact later confirmed when most of the purported backlog never turned into paying customers even after the Company’s network had been fully repurposed." Further, according to the complaint, on May 4, 2026 the CEO and Chairman of the Board David Schaeffer conceded "[o]n wavelength installs, we have seen a variety of customers pushing out their acceptance of wavelengths." Following this the news, the price of Cogent common stock fell $6.79 per share, or 29% to close at $16.37 per share on May 4, 2026. WHY CONTACT KAPLAN FOX? Kaplan Fox &amp; Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented. Kaplan Fox is widely regarded as one of the nation&#39;s premier plaintiffs&#39; securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch. For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Pamela A. Mayer <a href="https://www.globenewswire.com/Tracker?data=pzA22mrtl6zK7NLzVSmQfcsyIXubUn-laT0512108JsJmIurnqDy11h26Bm-CpIkkSgbNBHpi3truYPlVeK-pCqbfyzpcuyd2xiaNKFid2dIMsFWo8XwquRlw9ANi1lz" rel="nofollow" target="_blank">KAPLAN FOX &amp; KILSHEIMER LLP</a> 800 Third Avenue, 38th Floor New York, New York 10022 (646) 315-9003 <a href="https://www.globenewswire.com/Tracker?data=_gS7oAj83YgUp6buVCken9IesFV1kbwoLirhlOCPev8pKFNde3WLC-N3eshIAVqKwH1qzXfOXBf-w-C6f-YmvTIKPK2NQVcu7anLJ_BfXOY=" rel="nofollow" target="_blank">pmayer@kaplanfox.com</a> Laurence D. King <a href="https://www.globenewswire.com/Tracker?data=pzA22mrtl6zK7NLzVSmQfcsyIXubUn-laT0512108JvBrWH_oBA-fWxft0FqtpMWfkEOGbyavJ_ITZOP13HYioDybePuUHvAk--isak4-8IvA1TtDPozL-oBa3LpTr2p" rel="nofollow" target="_blank">KAPLAN FOX &amp; KILSHEIMER LLP</a> 1999 Harrison Street, Suite 1501 Oakland, California 94612 (415) 772-4704 <a href="https://www.globenewswire.com/Tracker?data=Alpl68DmztgswzaF88KjhGkM-Qd__m7EpbZUpyMh-ZppdftZz6mtcWJ8QDvXc47uVElsuRBIxXn-FjbWh224C7TuZs6hNjqFya6GCmD1ObQ=" rel="nofollow" target="_blank">lking@kaplanfox.com</a> Contacting or submitting information to Kaplan Fox &amp; Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client. <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgwMDA0MCM3NzQ4NjA1IzIwMjA4OTE="></img> <img alt="" src="https://ml.globenewswire.com/media/ZjlhZGNmMmItODYwZC00MjI5LWIzNzYtMTdlOTFmNjk3YzZkLTEwMzE5OTktMjAyNi0wNy0yOS1lbg==/tiny/Kaplan-Fox-Kilsheimer-LLP.png" referrerpolicy="no-referrer-when-downgrade"></img><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/711aa439-0e7d-4b53-8daa-452f70fe946a"><img src="https://ml.globenewswire.com/media/711aa439-0e7d-4b53-8daa-452f70fe946a/small/pr-resizing-kaplan-fox-tagline-logo-color-jpg.jpg" border="0" width="150" height="29" alt="Primary Logo"></img></a>

A securities class action has been filed against Cogent Communications (CCOI) alleging misrepresentation of demand for optical wavelengths and an illusory backlog between Feb 29, 2024 and May 1, 2026. After the CEO acknowledged customer delays on wavelength installs, Cogent’s shares dropped 29% to $16.37 on May 4, 2026, signaling potential ongoing downside risk and litigation costs.

News insight

Kaplan Fox Encourages Cogent Communications Holdings, Inc. (NASDAQ: CCOI) Investors with Significant Losses to Contact the Firm Before September 21, 2026

AI summary

Sentiment rationale

Key facts

Legal