Faruqi & Faruqi, LLP on Sept. 3, 2026, reminded investors in Cogent Communications Holdings, Inc. of a federal securities class action and the Sept. 21, 2026, deadline to seek lead-plaintiff status, joining earlier outreach by Hagens Berman Sobol Shapiro LLP on the same case. The proposed class covers purchases or acquisitions of Cogent securities from Feb. 29, 2024, through May 1, 2026. The complaint alleges Cogent and its executives misrepresented optical wavelength backlog and customer demand, saying most backlog orders were unlikely to become paid orders and many customers could not or would not accept delivery even if service could be provisioned. It further claims revenue and margin targets lacked a reasonable basis, the company lacked the fundamentals to sustain its long-standing dividend policy, and there was an undisclosed risk that defendant Schaeffer could be forced to sell large amounts of stock because of pledging activity. Faruqi & Faruqi said Cogent shares fell about 29% on May 4, 2026, after the alleged corrective disclosures. Earlier case-related disclosures include a 20% sequential backlog decline and removal of 1,500 orders reported on Feb. 27, 2025; management’s May 8, 2025, statement that installation capacity exceeded orders ready for installation; the halt to backlog reporting on Feb. 20, 2026; and weak wavelength revenue and customer-connection results on May 4, 2026. Cogent later reported second-quarter 2026 service revenue of $235.6 million on Aug. 6, with sequential and year-over-year declines and pressure on off-net revenue and customer connections. No class has been certified.