Shareholders Foundation, Inc.

Tangoe Inc (OTCMKTS:TNGO) Investor Lawsuit Filed Against Takeover by Marlin Equity Partners

A lawsuit was filed for investors in shares of Tangoe Inc (OTCMKTS:TNGO) in connection with the proposed takeover and OTCMKTS:TNGO stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 06/14/2017 -- The Shareholders Foundation announces that an investor, who currently holds shares of Tangoe Inc (OTCMKTS:TNGO), filed a lawsuit in effort to halt the proposed takeover of Tangoe Inc. by Marlin Equity Partners for $6.50 per share.

Investors who purchased shares of Tangoe Inc (OTCMKTS:TNGO) and currently hold any of those OTCMKTS:TNGO shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to OTCMKTS:TNGO stockholders by agreeing to sell Tangoe Inc cheaply via an unfair process to Marlin Equity Partners

On April 28, 2017, global investment firm Marlin Equity Partners announced that it has entered into an agreement to acquire all outstanding shares of Tangoe, Inc. (OTCPK:TNGO) for $6.50 per share in cash.

However, plaintiff claims that the proposed consideration OTCPK:TNGO shareholders will receive is grossly inadequate and undervalues Tangoe, Inc. Indeed, at least one analyst has set the high target price for TNGO shares and TNGO shares traded prior to the takeover announcement in the open market as high as $9.82 per share in September 2016.

On June 13, 2017, shares of Tangoe Inc (OTCMKTS:TNGO) closed at $6.49 per share.

Those who are current investors in Tangoe Inc shares 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