Cogent Communications Group, Inc. (Nasdaq: CCOI)
The firm is investigating a derivative case against Cogent Communications Group, Inc. (Nasdaq: CCOI), a Delaware corporation headquartered in Washington D.C. The Company provides internet services throughout North America and 70 European markets.
Cogent historically has been unsuccessful in generating revenues that exceed its operating expenses. Nevertheless, the CEO and other executives have reaped millions in annual compensation, mainly through grossly excessive equity incentive awards that the Board has granted admittedly without regard to company performance. At the Companyís annual stockholder meeting on April 27, 2011, only 36% of the Companyís shareholders voted in favor of Cogentís executive compensation program.
We seek to commence a shareholder derivative action on behalf of Cogent against certain of its current officers and directors for breach of fiduciary duty, waste of corporate assets, and unjust enrichment relating to the Board's excessive compensation practices.
If you are a current shareholder who purchased prior to April 15, 2010 and would like to discuss your options of exercising your rights as a shareholder, which includes ensuring that the board of directors will act in the best interest of the shareholders, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.