| Company: | Cogent Communications Group, Inc. |
| Ticker Symbol: | AMEX: COI |
| Class Period: | February 14, 2005 to June 7, 2005 |
| Date Filed: | Aug-03-05 |
| Lead Plaintiff Deadline: | Oct-03-05 |
| Court: | District, DC |
| Allegations: |
A securities fraud class action lawsuit has been filed on behalf of purchasers of the securities of Cogent Communications Group, Inc. ("Cogent") (AMEX: COI) between February 14, 2005 and June 7, 2005, inclusive.
The action (case no. 05-cv-01562) is pending before Judge Richard J. Leon in the United States District Court for the District of Columbia against Cogent and company executives David Schaeffer and Thaddeus G. Weed.
According to the complaint, defendants failed to publicly disclose that Cogent intended to sell shares of Cogent common stock in a secondary public offering at a materially reduced price from the stock's then-current market price. Defendants knew or recklessly disregarded that the sale of Cogent common stock at a material discount to its trading price would cause a steep decline in the market price of its shares held by plaintiff and other class members. After Cogent announced that it would sell 10,000,000 shares of its stock at $6.00 a share, the stock price fell 29.4%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
The action (case no. 05-cv-01562) is pending before Judge Richard J. Leon in the United States District Court for the District of Columbia against Cogent and company executives David Schaeffer and Thaddeus G. Weed.
According to the complaint, defendants failed to publicly disclose that Cogent intended to sell shares of Cogent common stock in a secondary public offering at a materially reduced price from the stock's then-current market price. Defendants knew or recklessly disregarded that the sale of Cogent common stock at a material discount to its trading price would cause a steep decline in the market price of its shares held by plaintiff and other class members. After Cogent announced that it would sell 10,000,000 shares of its stock at $6.00 a share, the stock price fell 29.4%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
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If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your securities complaint.At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
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