STEVENSON, Md., March 4, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Connecticut on behalf of purchasers of Tangoe, Inc. ("Tangoe" or the "Company") (Nasdaq:TNGO) common stock during the period between December 20, 2011 and September 5, 2012, inclusive (the "Class Period").
If you have suffered a net loss from investment in Tangoe, Inc. common stock purchased on or after December 20, 2011, and held through September 5, 2012, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than April 29, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company was overstating its organic growth by underreporting the percentage of revenue that was derived from recent acquisitions. According to the Complaint, following an August 28, 2012 report by thestreetsweeper.org that described the Company as having a "risky acquisition-driven growth strategy," and a September 6, 2012 report by Copperfield Research that concluded that the Company had materially misrepresented its organic growth rate, the value of Tangoe shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616