Bragar Eagel & Squire, P.C. said a class action lawsuit has been filed against Cogent Communications Holdings, Inc. in the United States District Court for the District of Columbia on behalf of investors who purchased or otherwise acquired Cogent common stock between February 29, 2024 and May 1, 2026. The law firm said investors have until September 21, 2026 to seek appointment as lead plaintiff. The complaint alleges that throughout the class period, defendants told investors that demand for optical wavelengths in Cogent’s newly acquired wireline business was exceptionally strong and rapidly growing, while the order backlog publicized during the period was largely illusory and did not convert into paying customers even after the network had been fully repurposed. The release says that on May 4, 2026, CEO and Chairman of the Board David Schaeffer acknowledged that some customers were delaying acceptance of wavelengths, after which Cogent shares fell $6.79, or 29%, to close at $16.37. Bragar Eagel & Squire said affected investors can contact Brandon Walker or Melissa Fortunato to discuss their legal options.