San Diego, CA -- (SBWIRE) -- 09/19/2012 -- An investigation on behalf of investors of Tangoe Inc (NASDAQ:TNGO) shares over potential securities laws violations by Tangoe Inc and certain of its directors and in connection with certain statements was announced.
Investors who purchased shares of Tangoe Inc (NASDAQ:TNGO), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Tangoe Inc (NASDAQ:TNGO) concerning whether a series of statements by Tangoe Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Tangoe Inc (NASDAQ:TNGO) reported that its annual revenue increased from $37.53 million in 2008 to $104.94 million in 2011 and that its Net Loss decreased from $6.96 million in ’08 to $2.96 million in 2011.
Shares of Tangoe Inc (NASDAQ:TNGO) grew from as low as $9.07 per share in August 2011 to as high as $21.43 per share in August 2012.
Then on September 6, 2012, a report was release alleging that the telecommunications software company misrepresented facts about its growth rate and called for a probe by the U.S. Securities and Exchange Commission.
Shares of Tangoe Inc (NASDAQ:TNGO) fell from $20.24 on August 27, 2012 to as low as $13.56 on September 6, 2012.
On September 12, 2012 NASDAQ:TNGO shares closed at $14.93 per share, substantially below its current 52 week High of $23.05 per share.
Those who purchased shares of Tangoe Inc (NASDAQ:TNGO) and currently hold those Tangoe Inc shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego