Faruqi & Faruqi, LLP Notifies Investors In Tangoe, Inc. Of Class Action
Lawsuit And Upcoming Deadline
NEW YORK, April 29, 2013
NEW YORK, April 29, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading
national securities law firm, reminds Tangoe, Inc. ("Tangoe" or the "Company")
(NasdaqGS: TNGO) investors of the April 30, 2013 deadline to seek the role of
lead plaintiff in a federal securities class action lawsuit filed against the
Company and certain executives.
(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO )
A complaint has been filed on behalf of all persons who purchased or otherwise
acquired Tangoe securities between December 20, 2011 and September 5, 2012.
The complaint focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that: (1) Tangoe was
overstating its organic growth by underreporting the percentage of revenue
derived from recent acquisitions; and (2) the Company was failing to increase
its customers as its deferred implementation fees failed to grow.
On August 28, 2012, a report was published by thestreetsweeper.org that
described the Company as having a "risky acquisition-driven growth strategy."
On this news, Tangoe shares declined $3.39 per share, or nearly 17%, to close
at $16.70 per share on August 28, 2012.
On September 6, 2012, Copperfield Research published a report concluding that
the Company had materially misrepresented its organic growth rate. On this
news, Tangoe shares declined $1.03 per share, or 6%, on September 6, 2012. The
stock continued to decline an additional $1.68 per share or 10.5%, to close at
$14.29 per share on September 7, 2012.
Request more information now by clicking here: www.faruqilaw.com/TNGO. There
is no cost or obligation to you.
If you invested in Tangoe stock or options between December 20, 2011 and
September 5, 2012 and would like to discuss your legal rights, visit
www.faruqilaw.com/TNGO. You can also contact us by calling Richard Gonnello
or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to email@example.com or firstname.lastname@example.org.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Tangoe's conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We welcome the
opportunity to discuss your particular case. All communications will be
treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
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