NEW YORK, March 8, 2016 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating potential securities claims on behalf of investors of Tangoe, Inc. (NASDAQ: TNGO) ("Tangoe" or the "Company") resulting from allegations that Tangoe may have issued materially misleading business information to the investing public.
On March 7, 2016, Tangoe 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 does not expect to file its annual report on Form 10-K with the SEC as scheduled on March 15, 2016.
Further, Tangoe investors should no longer rely upon the Company's previously released financial statements for the time periods cited above. In addition, investors should no longer rely upon earnings releases for these periods; reports by the Company's independent registered public accounting firm on such financial statements; and other communications relating to these financial statements. The Company is withdrawing all prior financial guidance for the fourth quarter 2015 and related full year 2015.
The decision to restate these financial statements is based on the Company's conclusion that it made errors in recognizing revenue, primarily from business activities that are ancillary to the Company's core business.
On this news, Tangoe stock fell sharply, harming investors.
If you purchased shares of Tangoe and have suffered a loss from your investment in Tangoe common stock and would like to learn more information about this investigation, including your ability to potentially recover your losses, please contact us either by email at firstname.lastname@example.org or by telephone at 800.511.7037 or visit our website at www.tripplevy.com/participate-in-an-action.
Tripp Levy PLLC represents individuals and institutional shareholders in shareholder transactions and has assisted in the recovery of millions of dollars for shareholders in securities actions around the globe.
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