If you purchased shares of Cogent Communications Group, Inc. (NASDAQ:CCOI)
The investigation by a law firm focuses on whether certain officers and directors of Cogent Communications Group, Inc. violated shareholder protection laws by paying executives excessive compensation.
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. At its April 27 annual meeting 61% of the shareholder voted against the Company's compensation plan.
Despite that NASDAQ:CCOI shares traded in 2008 as high as $22.32 per share and during 2007 as high as$32.85 per share and fell to recently slightly above $12.50 per share, 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.
Those who purchased shares of Cogent Communications Group, Inc. (NASDAQ:CCOI)
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