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If you purchased shares of Tangoe Inc (OTCMKTS:TNGO) and currently hold any of those OTCMKTS:TNGO shares, you have certain options and you should contact 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
June 19, 2017 (Shareholders Foundation) - An investor, who currently holds shares of Tangoe Inc (OTCMKTS:TNGO), filed a lawsuit in effort to halt the proposed takeover of Tangoe Inc. by Marlin Equity Partners for $6.50 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to OTCMKTS:TNGO stockholders by agreeing to sell Tangoe Inc cheaply via an unfair process to Marlin Equity Partners
On April 28, 2017, global investment firm Marlin Equity Partners announced that it has entered into an agreement to acquire all outstanding shares of Tangoe, Inc. (OTCPK:TNGO) for $6.50 per share in cash.
However, plaintiff claims that the proposed consideration OTCPK:TNGO shareholders will receive is grossly inadequate and undervalues Tangoe, Inc. Indeed, at least one analyst has set the high target price for TNGO shares and TNGO shares traded prior to the takeover announcement in the open market as high as $9.82 per share in September 2016.