An investigation on behalf of investors of Tangoe Inc (OTCMKTS:TNGO) in connection with the proposed takeover was announced and OTCMKTS:TNGO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/26/2017 -- The takeover of Tangoe Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold shares of Tangoe Inc, concerning whether the takeover of Tangoe Inc. by Marlin Equity Partners for $6.50 per share is unfair.
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 firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Tangoe Inc breached their fiduciary duties owed to OTCMKTS:TNGO investors in connection with the proposed acquisition.
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, given that at least one analyst has set the high target price for TNGO shares and given that TNGO shares traded prior to the takeover announcement in the open market as high as $9.82 per share in September 2016, the investigation concerns whether the offer is unfair to OTCMKTS:TNGO stockholders. More specifically, the investigation concerns whether the Tangoe Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On May 25, 2017, shares of Tangoe Inc (OTCMKTS:TNGO) closed at $6.46 per share.
Those who are current investors in Tangoe Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego