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Ryan amp;; Maniskas, LLP Files Class Action Lawsuit Against Tangoe, Inc.

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^{Published in Science and Technology on Friday, April 19th 2013 at 15:15 GMT by Market Wire}  

Ryan & Maniskas, LLP Files Class Action Lawsuit Against Tangoe, Inc. -- WAYNE, Pa., April 19, 2013 /PRNewswire/ --

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WAYNE, Pa., April 19, 2013 /PRNewswire/ -- [ Ryan & Maniskas, LLP ] ([ www.rmclasslaw.com/cases/tngo ]) has filed a class action lawsuit against Tangoe, Inc. ("Tangoe" or the "Company") (NASDAQ: [ TNGO ]) and certain of its officers. The class action filed in United States District Court, District of Connecticut is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Tangoe between December 20, 2011 and September 5, 2012, both dates inclusive of (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

(Logo: [ http://photos.prnewswire.com/prnh/20121112/MM11729LOGO ])

If you are a shareholder who purchased Tangoe securities during the Class Period, you have until April 30, 2013 to ask the Court to appoint you as Lead Plaintiff for the class. For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire ) toll-free at (877) 316-3218 or by email at [ rmaniskas@rmclasslaw.com ] or visit: [ www.rmclasslaw.com/cases/tngo ].  

The Complaint alleges that throughout the Class Period, Defendants orchestrated a scheme to inflate their share price through a series of acquisitions, and made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was overstating organic growth by underreporting the percentage of revenue derived from recent acquisitions; (2) the Company was not growing customers organically as its deferred implementation fees failed to grow; and (3) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.

On August 28, 2012, a report was published by thestreetsweeper.org that described the Company as having a "risky acquisition-driven growth strategy." On this news, Tangoe shares declined $3.39 per share, or nearly 17%, to close at $16.70 per share on August 28, 2012.

On September 6, 2012, Copperfield Research published a report concluding that the Company had materially misrepresented its organic growth rate. On this news, Tangoe shares declined $1.03 per share, or 6% on September 6, 2012. The stock continued to decline an additional $1.68 per share or 10.5%, to close at $14.29 per share on September 7, 2012.

If you are a member of the class, you may, no later than April 29, 2013, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: [ www.rmclasslaw.com/cases/tngo ] or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at [ rmaniskas@rmclasslaw.com ].  For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: [ www.rmclasslaw.com ].

Ryan & Maniskas, LLP is a national shareholder litigation firm.  Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

SOURCE Ryan & Maniskas, LLP