If you have purchased shares of Tangoe Inc (NASDAQ:TNGO) between December 20, 2011 and September 5, 2012, call 1-800-934-2921 right now to protect your rights.

Filing deadline:   04/29/2013

Specifically written into the complaint is the allegation that some of the directors and officers of Tangoe, Inc. violated the Securities Exchange Act of 1934. Everyone who purchased Tangoe, Inc. (NASDAQ:TNGO) stock between the dates of December 20, 2011 and September 5, 2012 are represented in this lawsuit. According to the plaintiff, the company is in violation of securities laws described in sections 10(b) and 20(a). The lawsuit also states that the company allegedly violated Rule 10b-5. 

The investor who filed the lawsuit alleges the following: 

• The officers and directors purchased new assets in order to cause the company’s stock price to become inflated
• The officers and directors made statements that had no basis in fact that caused investors to come to the wrong conclusions about the company’s operational practices and compliance policies

In 2008, Tangoe, Inc. annual revenue was reported to be $37.53 million. In 2011, annual revenue had increased to $104.94 million. Also in 2008, Tangoe, Inc. reported a net loss of $6.96 million. In 2011, the net loss had decreased to $2.96 million. 

In August of 2011, the Tangoe, Inc. (NASDAQ:TNGO) stock price was recorded at $9.07 a share. By August of 2012, the price had increased to $21.43 a share. 

A report outlining the following two announcements was released to the public on September 6, 2012: 

1. Telecommunications software company Tangoe, Inc. was not truthful about the company’s rate of growth
2. The company was recommended to be investigated by the U.S. Securities and Exchange Commission

On August 27, 2012, the Tangoe, Inc. (NASDAQ:TNGO) stock price reached a high of $20.24 a share. By closing on September 6, 2012, the price had dropped to a low of $13.56 a share. By closing on December 31, the price had further declined to $11.87 a share. 

The closing price for Tangoe, Inc. (NASDAQ:TNGO) was reported at $13.61 a share on March 1, 2013. 

Own shares of Tangoe Inc (NASDAQ:TNGO) ? Contact us to protect your rights.

If you have purchased shares of Tangoe Inc (NASDAQ:TNGO) between December 20, 2011 and September 5, 2012, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.