PRLog - Aug. 17, 2011 - SAN DIEGO -- Certain senior officers and executives at Cogent Communications Group are under investigation on behalf of current long term investors in Cogent Communications Group, Inc. (NASDAQ:CCOI)
If you purchased shares of Cogent Communications Group, Inc. (NASDAQ: CCOI) and currently hold those NASDAQ CCOI stocks, you have certain options and you should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain of Cogent Communications Group’ senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.
Cogent Communications Group’s 12months Total Revenue increased from $185.66million in 2007 to $263.42million in 2010. Cogent Communications Group, Inc. reported a Net Loss of $35.36million in 07, $15.22million in 08, and $17.15million in 09.
For 2010 Cogent Communications Group, Inc. reported a small Net Income of $0.67million. For the first quarter in 2011 Cogent Communications Group, Inc. reported quarterly Revenue of $73.46million with a quarterly Net Loss of $0.28million.
Nevertheless, Cogent Communications Group’s CEO earned a total compensation in2010 of $3.99million, including a time-vested stock award, which was worth approximately $3.7 million.
But Cogent Communications Group’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Cogent Communications Group's say on pay provision. Cogent Communications Group Inc. received only 39% support for its pay practices at its April 27 annual meeting, according to a company filing.
Shares of Cogent Communications Group, Inc. increased from as low as $3.97 per share in November 08 to slightly above $15 in May 2011. However NASDAQ CCOI stock traded during 2008 as high as $22.32 per share and during 2007 as high as$32.85 per share. Leaving investors who purchased during the high of 2007 with a more than 50% loss.
Those who purchased shares of Cogent Communications Group, Inc. (NASDAQ: CCOI) and currently hold those NASDAQ:CCOI stocks, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554
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