GlobeNewsWire
27 Jul 2026, 10:38 UTC · 1h ago
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Cogent Communications reduced its quarterly dividend from $1.015 per share to $0.02 per share, a 98% decrease. — A near-total elimination of a dividend is a massive negative signal regarding cash flow and financial health, typically triggering significant institutional sell-offs.
-0.90A securities fraud class action lawsuit has been filed against Cogent and its executives alleging they misled investors regarding wavelength business demand and financial goals. — Legal proceedings for fraud create significant contingent liabilities and damage management credibility, increasing the risk profile for shareholders.
-0.60Cogent's wavelength business has faced systemic issues with customer acceptance and a declining order backlog. — Fundamental failure in a core growth driver suggests the company's long-term revenue projections were overestimated.
-0.50Which stocks this story touches
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The company is facing a securities fraud class action lawsuit following an 80% stock drop and a 98% dividend reduction.
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