SAN FRANCISCO -- (Business Wire)
The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class
action litigation has been brought on behalf of all persons who
purchased the securities of Tangoe, Inc. (“Tangoe” or the “Company”)
(NYSE: TNGO) between December 20, 2011 and September 5, 2012, inclusive
(the “Class Period”).
If you purchased or otherwise acquired Tangoe securities during the
Class Period, you may move the Court for appointment as lead plaintiff
by no later than April 30, 2013. A lead plaintiff is a representative
party who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the action will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as your
counsel in the action.
Inc. investors who wish to learn more about the action and how to seek
appointment as lead plaintiff should click here or contact Douglas
I. Cuthbertson of Lieff Cabraser toll-free at 1 (800) 541-7358.
on the Tangoe, Inc. Securities Class Litigation
This action is brought on behalf of all purchasers of the securities of
Tangoe, Inc. ("Tangoe" or the "Company") during the Class Period.
Tangoe develops and markets computer software that helps companies
manage and control their fixed and mobile communications assets and
The Complaint alleges that throughout the Class Period, Defendants
conducted a scheme to inflate their share price through a series of
acquisitions, and made materially false and misleading statements
regarding the Company's business, operational and compliance policies.
Specifically, defendants made false and/or misleading statements and/or
failed to disclose that: (i) the Company was overstating organic growth
by underreporting the percentage of revenue derived from recent
acquisitions; (ii) the Company was not growing customers organically as
its deferred implementation fees failed to grow; and (iii) as a result
of the above, the Company's financial statements were materially false
and misleading at all relevant times.
On August 28, 2012, thestreetsweeper.org published a report that
described the Company as possessing a "risky acquisition-driven growth
strategy." Upon this news, Tangoe shares declined $3.39 per share, or
almost 17%, to close at $16.70 per share on August 28, 2012.
On September 6, 2012, Copperfield Research published a report which
concluded 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 fall an additional $1.68
per share or 10.5%, to close at $14.29 per share on September 7, 2012.
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York and Nashville, is a nationally recognized law firm committed to
advancing the rights of investors and promoting corporate responsibility.
Since 2003, the National Law Journal has selected Lieff Cabraser
as one of the top plaintiffs’ law firms in the nation. In compiling the
list, the National Law Journal examined recent verdicts and
settlements in addition to overall track records. Lieff Cabraser is one
of only two plaintiffs’ law firms in the United States to receive this
honor for the last ten consecutive years.
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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Lieff Cabraser Heimann & Bernstein, LLP
I. Cuthbertson, 800-541-7358
Source: Lieff Cabraser Heimann & Bernstein, LLP
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