SAN DIEGO, June 15, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in New Jersey on behalf of certain purchasers of shares of Tangoe Inc (NASDAQ:TNGO) over alleged Securities Laws Violations by Tangoe. The lawsuit seeks to recover damages for certain NASDAQ:TNGO investors.
Investors who purchased shares of Tangoe Inc (NASDAQ:TNGO) have certain options and for certain investors there are short and strict deadlines running. Deadline: July 25, 2016. NASDAQ:TNGO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that 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 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.
Those who purchased Tangoe Inc (NASDAQ:TNGO) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.