Kirby McInerney LLP Announces That a Class Action Lawsuit Has Been Filed on Behalf of Tangoe, Inc. Investors

  Kirby McInerney LLP Announces That a Class Action Lawsuit Has Been Filed on
  Behalf of Tangoe, Inc. Investors

Business Wire

NEW YORK -- March 12, 2013

Kirby McInerney LLP announced today that it has been retained by an investor
in Tangoe, Inc. (“Tangoe” or the “Company”) (NASDAQ: TNGO) to pursue claims in
the United States District Court for the District of Connecticut on behalf of
all persons or entities who purchased Tangoe securities between December 20,
2011 and September 5, 2012 (the “Class Period”). Other investors have already
filed suit asserting claims against Tangoe and certain officers for violation
of §10(b) of the Securities Exchange Act of 1934.

Tangoe develops and markets computer software to help companies manage and
control their fixed and mobile communications assets and costs. The lawsuit as
filed alleges that throughout the Class Period, Defendants issued materially
false and misleading statements regarding the Company’s business, operational
and compliance policies to inflate their share price. Particularly, Defendants
made false and/or misleading statements and/or failed to disclose that: (i)
the Company was overstating organic growth by underreporting the percentage of
revenue derived from recent acquisitions; (ii) the Company was not growing
customers organically as its deferred implementation fees failed to grow; and
(iii) as a result of the above, the Company’s financial statements were
materially false and misleading at all relevant times.

On August 28, 2012, a report was published that described the Company as
having a “risky acquisition-driven growth strategy.” On this news, Tangoe
shares declined $3.39 per share from $20.09 per share to $16.70 per share.

On September 6, 2012, another report was published that alleged that the
Company had materially misrepresented its organic growth rate. On this news,
Tangoe shares declined $1.03 per share, from $17.00 to $15.97 per share.

If you acquired Tangoe securities during the Class Period, you may, no later
than April 29, 2013, request that the court appoint you lead plaintiff of the
proposed class. Although your ability to share in any recovery is not affected
by the decision whether or not to seek appointment as a lead plaintiff, lead
plaintiffs make important decisions that could affect the overall recovery for
class members, including decisions concerning settlement. If you have any
questions about this matter, and any rights you might have with respect to
these claims, contact Tom Elrod at telrod@kmllp.com, or Wilona Karnadi at
wkarnadi@kmllp.com, or by telephone at (212) 371-6600.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in
securities, whistleblower, antitrust and consumer litigation. The firm has
specialized in complex litigation, including securities class actions, for
several decades. Kirby McInerney LLP has repeatedly demonstrated its expertise
in this field, and has been recognized by various courts that have appointed
the firm to major positions in consolidated and multi-district litigation. The
firm’s efforts on behalf of shareholders in securities litigation have
resulted in recoveries totaling hundreds of millions of dollars, and the
firm’s achievements and quality of service have been chronicled in numerous
published decisions. Additional information about the firm or the claims
against Tangoe can be found at Kirby McInerney LLP’s website:
http://www.kmllp.com.

Contact:

Kirby McInerney LLP
Tom Elrod, telrod@kmllp.com
or
Wilona Karnadi, wkarnadi@kmllp.com
212-371-6600
 
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