NEW YORK, March 8, 2016 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Tangoe, Inc. ("Tangoe" or the "Company") (NASDAQ: TNGO). Such investors are advised to contact Peretz Bronstein or his investor relations analyst Yael Hurwitz at email@example.com or 212-697-6484.
The investigation concerns whether Tangoe and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Tangoe is a global provider of IT Expense Management software and services. The Matrix, Tangoe's technology and services platform was designed to help companies transform the management of IT assets, services, expenses, and usage to create business value and increase efficiency.
On March 7, 2016, post-market, Tangoe announced its results for 2013, 2014, and the first three quarters of 2015. Tangoe is also withdrawing its Q4/2015 guidance. The Company does not plan to file its 2015 annual report (10-K Form) on March 15, as previously planned. A spokesperson for Tangoe said, "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. A majority of the errors relate to non-recurring revenue ... As a result of these corrections, the Company is revising its revenue recognition policies for several categories of revenue."
Over $17.1M of revenue in the restated periods is expected to be affected. It appears that not much operational cash flow was generated from the restatement periods. Following this news, Tangoe stock dropped $0.21 per share or 2.64% to close at $7.75 per share, on March 7, 2016.
If you are aware of any facts relating to this investigation, or purchased shares of Tangoe, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/#!tngo/dhdvm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
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 Yael Hurwitz
212-697-6484 | email@example.com
SOURCE Bronstein, Gewirtz & Grossman, LLC