Cogent Communications Hit With Securities Suit Over Wavelength Backlog
Image
San Francisco – September 10, 2026 -- Hagens Berman Sobol Shapiro LLP has filed a securities class action against Cogent Communications Holdings (NASDAQ: CCOI), alleging the company misrepresented its optical wavelength "backlog" as a reliable indicator of revenue growth between February 29, 2024 and May 1, 2026.
Lawsuit targets Cogent's wavelength backlog disclosures as misleading investors
The complaint alleges Cogent's wavelength backlog was largely illusory, with customers unable or unwilling to accept delivery even when the company could provision the wavelengths. Plaintiffs claim this misrepresented actual customer demand and inflated the company's growth narrative.