BOSTON, March 8, 2016 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations by Tangoe, Inc. ("Tangoe" or the "Company") (NASDAQ: TNGO), a global provider of IT expense management software and related services. 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 and/or breached their fiduciary duties to Tangoe's shareholders.
On March 7, 2016, Tangoe filed a Form 8-K with the Securities and Exchange Commission indicating that the Company's Audit Committee and Board of Directors determined that the Company's financial statements for the years 2013 and 2014 (and all quarters therein) and the first three quarters of 2015 should no longer be relied upon due to the improper recognition of revenue, including non-recurring revenue from strategic consulting and bill audit services. The Company indicated it would have to restate prior results and was withdrawing its previously issued financial guidance for the fourth quarter of 2015 and related full year 2015.
Following this news, Tangoe shares are trading down over 23% in pre-market trading today.
Block & Leviton's investigation seeks to determine, among other things, whether Tangoe or its officers and directors have violated the federal securities laws and/or breached their fiduciary duties to their investors. If you have any information relevant to this investigation, or if you have purchased Tangoe securities and have questions about your legal rights, please contact attorney Jake Walker of Block & Leviton LLP at (617) 398-5600 or email him at Jake@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 70 years, recovering billions of dollars on their behalf.
Confidentiality to whistleblowers or others with information relevant to the investigation is assured.
This notice may constitute attorney advertising.
Contact: BLOCK & LEVITON LLP Jake Walker (617) 398-5600 Jake@blockesq.com
SOURCE Block & Leviton LLP