52 Days left to seek lead plaintiff status.

The Complaint alleges that Defendants throughout the Class Period made materially false and misleading statements because they failed to disclose the following adverse facts pertaining to Cogent’s business, operations, and financial condition, which were known to or recklessly disregarded by defendants: (i) that the vast majority of the purported orders in Cogent’s optical wavelength “backlog” were unlikely to ever result in a paid order; (ii) that large quantities of the customers in Cogent’s purported optical wavelength “backlog” were unable or unwilling to accept delivery even if Cogent was in a position to provision the wavelength in a timely manner; (iii) that, as a result of (i)-(ii) above, defendants had materially misrepresented customer demand for Cogent’s optical wavelength services and the nature of Cogent’s purported “backlog” of wavelength orders; (iv) that, as a result of (i)-(iii) above, Cogent was not on track to achieve its revenue and margin targets and such targets lacked a reasonable basis in objective fact; (v) that Cogent did not have the financial capacity or business fundamentals to maintain its long-standing dividend policy; and (vi) that there was a material, undisclosed risk that defendant David Schaeffer would be forced to sell vast quantities of Cogent stock as a result of his high-risk pledging activities, thereby further depressing the price of Cogent stock in the event the truth regarding Cogent’s “backlog,” demand issues, and financial position were ever revealed.

Cogent Communications Holdings Inc. (NASDAQ: CCOI) Claim Form