Morgan & Morgan Announces That a Class Action Suit Has Been Filed Against
Tangoe, Inc. -- TNGO
NEW YORK, March 8, 2013 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a
class action lawsuit has been filed in the United States District Court for
the District of Connecticut on behalf of purchasers of Tangoe, Inc. common
stock ("Tangoe") (Nasdaq:TNGO) during the class period December 20, 2011
through September 5, 2012, inclusive (the "Class Period").The class action
seeks to recover damages against the Company and certain of its officers and
directors as a result of alleged violations of the federal securities laws.
If you purchased Tangoe between December 20, 2011 and September 5, 2012, you
may, no later than April 30, 2013, request that the Court appoint you lead
plaintiff of the proposed class. A lead plaintiff is a representative party
that acts on behalf of other class members in directing the litigation. Any
member of the purported class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and remain an
absent class member.
If you purchased Tangoe and are interested in learning more about the Tangoe
securities fraud class action please contact George Pressly, Esq. at 1 (800)
631-6234 or email George at email@example.com.
The complaint alleges that during the Class Period, defendants issued
materially false and misleading statements regarding the Company's business
prospects. Specifically, defendants overstated Tangoe's organic growth rate by
underreporting the revenue it derived from recent acquisitions. According to
the Complaint, following an August 28, 2012 report by thestreetsweeper.org
that described the Company as having a "risky acquisition driven growth
strategy," and a September 6, 2012 report by Copperfield Research that
concluded that the Company had materially misrepresented its organic growth
rate, the value of Tangoe shares declined a combined $4.12 per share, or
approximately 20.5%, to close at $15.97 per share on September 6, 2012.
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to
securities law, the firm also practices in the areas of personal injury,
consumer protection, overtime, and product liability. All of the Firm's legal
endeavors are rooted in its core mission: provide investor and consumer
protection and always fight "for the people." For more information, please
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CONTACT: Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
New York, NY 10036
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