An investigation on behalf of current long term investors in NASDAQ:TNGO shares over possible breaches of fiduciary duty by certain directors of Tangoe Inc was announced and NASDAQ:TNGO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/03/2016 -- An investigation for investors in NASDAQ:TNGO shares concerning potential breaches of fiduciary duties by certain directors of Tangoe Inc was announced.
Investors who are current investors in Tangoe Inc (NASDAQ:TNGO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm for investors in NASDAQ:TNGO stocks follows a lawsuit filed recently against Tangoe Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:TNGO stocks, concerns whether certain Tangoe directors are liable in connection with the allegations made in that lawsuit.According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 18, 2014 through March 7, 2016 the defendants issued certain allegedly false and misleading statements to investors and/or failed to disclose that defendants made errors in recognizing Tangoe's revenue, that Tangoe's financial results were overstated, and that as a result, statements about Tangoe's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On March 7, 2016, Tangoe Inc (NASDAQ:TNGO) announced that it will restate its financial statements for the years 2013 and 2014, all quarters therein, and the first 3 quarters of 2015. Tangoe Inc said that this decision was approved by the Company's Board of Directors, upon the recommendation of the Company's Audit Committee and that Tangoe Inc does not expect to file its annual report on Form 10-K with the SEC as scheduled on March 15, 2016. Shares of Tangoe Inc (NASDAQ:TNGO) declined on March 8, 2016, to as low as $5.32 per share.
Those who purchased shares of Tangoe Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com