Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Tangoe, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Tangoe, Inc. (“Tangoe” or the “Company”) (NasdaqGS: TNGO).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Tangoe was overstating its organic growth by underreporting the percentage of revenue derived from recent acquisitions; and (2) the Company was failing to increase its customers as its deferred implementation fees failed to grow.
On August 28, 2012, a report was published by thestreetsweeper.org that described the Company as having a "risky acquisition-driven growth strategy." On this news, Tangoe shares declined $3.39 per share, or nearly 17%, to close at $16.70 per share on August 28, 2012.
On September 6, 2012, Copperfield Research published a report concluding that the Company had materially misrepresented its organic growth rate. On this news, Tangoe shares declined $1.03 per share, or 6% on September 6, 2012. The stock continued to decline an additional $1.68 per share or 10.5%, to close at $14.29 per share on September 7, 2012.
If you invested in Tangoe stock or options between December 20, 2011 and September 5, 2012 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Tangoe’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Richard W. Gonnello
Faruqi & Faruqi, LLP
369 Lexington Avenue 10th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.