SAN FRANCISCO, July 11, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Tangoe, Inc. (NASDAQ:TNGO) investors of the July 25, 2016 Lead Plaintiff Deadline in the securities class action filed in the United States District Court for the District of New Jersey.

If you purchased or otherwise acquired securities of Tangoe, Inc. between March 18, 2014 and March 7, 2016 and suffered $100,000 or more in losses, contact Hagens Berman Sobol Shapiro LLP partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing TNGO@hbsslaw.com or visiting https://www.hbsslaw.com/cases/TNGO.

The litigation concerns Tangoe’s March 7, 2016 announcement that investors should no longer rely on the Company’s financial statements for 2013 and 2014, all quarters therein, and the first three quarters of 2015.  Defendants explained the Company had improperly recognized revenue and that, as a result, restatements were required.  On this news the price of Tangoe’s common stock fell 9% to close at $7.75 per share on March 8, 2016.

And, effective April 22, 2016 its Chief Financial Officer resigned at the board’s request.  Effective May 4, 2016, “after being informed of the Board’s conclusion that the Company in the longer term would benefit from a transition to a new CEO”, its Chairman/CEO resigned.

Tangoe has still not filed its annual 2015 Form 10-K or its first quarter 2016 Form 10-Q, having yet to complete the restatements.

“The improper revenue recognition practices here were not judgment calls,” said Hagens Berman partner Reed Kathrein.  “The applicable accounting principles that should have been followed are long-established.”

Whistleblowers: Persons with non-public information regarding Tangoe, Inc. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TNGO@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

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