GlobeNewsWire
25 Jul 2026, 10:38 UTC · 2h ago
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Cogent Communications is facing a class action lawsuit alleging that the majority of its optical wavelength 'backlog' was unlikely to result in paid orders. — Allegations of inflated backlogs suggest significant overstatement of future revenue and growth prospects.
-0.60The lawsuit claims Cogent lacked the financial capacity or business fundamentals to maintain its long-standing dividend policy. — Threats to dividend sustainability typically lead to immediate valuation drops for income-focused investors.
-0.50There is an undisclosed risk that defendant David Schaeffer may be forced to sell large quantities of CCOI stock due to high-risk pledging activities. — Potential forced liquidation by a major stakeholder creates significant downward price pressure and signal of instability.
-0.40Continue reading
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A securities class action lawsuit has been filed for the period between February 29, 2024, and May 1, 2026. — While legal notices are common, a formal class action introduces litigation risk and potential settlement costs.
-0.20Which stocks this story touches
The company is facing a class action lawsuit alleging materially false statements regarding its order backlog and financial stability.
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