Kaplan Fox & Kilsheimer LLP announced on Sept. 4, 2026, that a class action lawsuit had been filed against Cogent Communications Holdings, Inc. on behalf of investors who purchased or otherwise acquired Cogent securities from Feb. 29, 2024, through May 1, 2026. The complaint alleges that Cogent represented demand for optical wavelengths in its newly acquired wireline business as exceptionally strong and rapidly growing, while the order backlog publicized during the Class Period was largely illusory. It alleges that most of the reported backlog did not become paying customers even after Cogent’s network had been fully repurposed. On May 4, 2026, CEO and Chairman of the Board David Schaeffer said that some customers were delaying acceptance of wavelength installations. Cogent common stock then fell $6.79 per share, or 29%, to close at $16.37. Members of the proposed class have until Sept. 21, 2026, to ask the court to appoint them as lead plaintiff, although investors do not need to seek that role to participate in any possible recovery. Kaplan Fox said it has represented investors and other clients in complex litigation since its founding in 1956 and has recovered more than $10 billion for clients and represented classes.