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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of February 22, 2018 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
April 4, 2018 - The settlement was approved.
November 13, 2017 - The court preliminarily approved the settlement.
October 3, 2017 - A stipulation of settlement was filed by the parties.
January 26, 2017 - The case was transferred to the U.S. District Court for the District of Connecticut.
May 24, 2016 - An investor in shares of Tangoe Inc (NASDAQ: TNGO) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Tangoe Inc connection with certain allegedly false and misleading statements made between March 18, 2014 through March 7, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of Tangoe Inc (NASDAQ: TNGO) common shares between March 18, 2014 through March 7, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 18, 2014 through March 7, 2016 the defendants issued certain allegedly false and misleading statements to investors and/or failed to disclose that defendants made errors in recognizing Tangoe Inc’s revenue, that Tangoe Inc’s financial results were overstated, and that as a result, statements about Tangoe Inc’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. Tangoe Inc reported that its annual Total Revenue rose from $188.91 million in 2013 to $212.48 million in 2014 and that its Net Income of $4.96 million in 2013 declined to $2.94 million in 2014.
On March 7, 2016, Tangoe Inc (NASDAQ: TNGO) announced that it will restate its financial statements for the years 2013 and 2014, all quarters therein, and the first 3 quarters of 2015. Tangoe Inc said that this decision was approved by the Company's Board of Directors, upon the recommendation of the Company's Audit Committee and that Tangoe Inc does not expect to file its annual report on Form 10-K with the SEC as scheduled on March 15, 2016. Sahres of Tangoe Inc (NASDAQ: TNGO) declined on March 8, 2016, to as low as $5.32 per share.