NEW YORK, May 12, 2017 /PRNewswire/ -- The proposed acquisition of Tangoe, Inc. ("TNGO" or the "Company") by Marlin Equity Partners ("Marlin") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. On April 28, 2017, TNGO announced it entered into an agreement and plan of merger with Marlin. Under the terms of the agreement, the Company's shareholders will receive $6.50 in cash for each TNGO share they own.
WeissLaw is investigating whether TNGO's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the agreement price is $1.00 less than the January 3 proposal price TNGO previously received from Marlin and nearly $2.00 less than the Company's December 29 trading price of $8.41. Additionally, in the weeks preceding the January 3 proposal, TNGO shares traded for as high as $10.39 and analysts set a target prices of at least $8.00 per share, a price that some continued to maintain well after the announcement of the proposal.
Given these facts, WeissLaw is investigating whether TNGO's Board acted in the best interests of TNGO's public shareholders to maximize shareholder value prior to entering into the agreement. If you own TNGO shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/tangoe-inc/
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SOURCE WeissLaw LLP