The complaint alleges that Defendants violated Sections 10(b), 14(e) and 20(a) of the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, defendants issued false and misleading statements to investors and/or failed to disclose that: (1) defendants made errors in recognizing Tangoe's revenue; (2) the Company's financial results were overstated; and (3) 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.
After market closed on March 7, 2016, the Company issued a press release entitled, "Tangoe Announces That It Will Restate Financial Statements."
Further, after market closed on March 7, 2016, the Company also filed a Form 8-K with the SEC disclosing the consolidated financial statements of the fiscal years ending December 31, 2013 and 2014, as well as the quarters ended March 31, 2015, June 30, 2015, and September 30, 2015 should no longer be relied upon.
On this news, shares of Tangoe fell $0.70 per share or over 9% from its previous closing price to close at $7.75 per share on March 8, 2016, damaging investors.
No Class has yet been certified in the above action. To discuss this action, or for any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator, Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Tangoe, you have until July 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman
212-697-6484 | email@example.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC