Key Developments: Tangoe Inc (TNGO.O)
14.19USD
24 May 2013
$-0.15 (-1.05%)
$14.34
$14.16
$14.61
$14.04
304,666
446,871
$23.00
$11.53
Latest Key Developments (Source: Significant Developments)
Tangoe Inc And SAP AG Sign Software Development Cooperation Agreement For Collaboration On Mobile Security And Management Solution
Tangoe Inc announced that it has signed a Software Development Cooperation Agreement with SAP AG. Under terms of the agreement, Tangoe and SAP will work cooperatively to integrate Tangoe's Mobile TEM software suite with the SAP Mobile Secure portfolio including SAP Afaria 7.0. Specifically, the agreement enables Tangoe and SAP to develop interoperability between the SAP Afaria mobile device management software and Tangoe's procurement, fulfillment, invoice processing, expense allocation, asset management, plan optimization, catalog management and carrier payment capabilities. Full Article
Tangoe Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates; Reaffirms FY 2013 Guidance
Tangoe Inc announced that for the second quarter of 2013, it expects total revenue to be in the range of $45.6 million to $46.1 million, adjusted EBITDA to be in the range of $7.1 million to $7.3 million and non-GAAP net income per share to be approximately $0.16. For fiscal 2013, it expects revenue to be in the range of $188.5 million to $191.5 million, adjusted EBITDA to be in the range of $31.0 million to $32.0 million and non-GAAP net income per share to be in the range of $0.67 to $0.70. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $45.8 million, EBITDA of $7.2 million and EPS of $0.15 for second quarter 2013; revenues of $191 million, EBITDA of $32.3 million and EPS of $0.69 for fiscal 2013. Full Article
Pomerantz Law Firm Reminds Shareholders With Losses On Their Investment In Tangoe Inc Of Class Action Lawsuit And Upcoming Deadline
Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Tangoe, Inc. (Tangoe or the Company) and certain of its officers. The class action filed in United States District Court, District of Connecticut, and docketed under 3:13-CV-286(VLB), 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). 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: the Company was overstating organic growth by underreporting the percentage of revenue derived from recent acquisitions; the Company was not growing customers organically as its deferred implementation fees failed to grow; and as a result of the above, the Company's financial statements were materially false and misleading at all relevant times. Full Article
Ryan & Maniskas, LLP Files Class Action Lawsuit Against Tangoe Inc
Ryan & Maniskas, LLP announced that it has filed a class action lawsuit against Tangoe, Inc. (Tangoe or the Company) 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. 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. Full Article
Levi & Korsinsky Notifies Investors with Losses on Their Investment in Tangoe Inc of Class Action Lawsuit and Deadline of April 30, 2013 to Seek Lead Plaintiff Position
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the District of Connecticut on behalf of investors who purchased Tangoe Inc stock between December 20, 2011 and September 5, 2012 (the Class Period). The complaint alleges that defendants overstated the Company’s organic growth by underreporting the percentage of revenue that was derived from recent acquisitions. On August 28, 2012 a report on thestreetsweeper.org suggested that the Company maintained a “risky acquisition-driven growth strategy.” Then on September 6, 2012 a report by Copperfield Research concluded that the Company had materially misrepresented its organic growth rate; upon this news the value of Tangoe shares declined significantly. Full Article
Pittsburgh Law Office of Alfred G. Yates Jr., P.C. Files Class Action Lawsuit On Behalf of Shareholders of Tangoe Inc
Law Office of Alfred G. Yates Jr., P.C. announced that it has filed a class action lawsuit in the United States District Court for the District of Connecticut against Tangoe Inc on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from December 20, 2011 through September 5, 2012 (the Class Period). The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding organically growing its customer base. Following news that Tangoe had engaged in a "risky acquisition-driven growth strategy" and questions regarding its reported organic growth, its share value declined. Plaintiff seeks to recover damages on behalf of all purchasers of Tangoe common stock during the Class Period (the Class). Full Article
Lieff Cabraser Announces Class Action Lawsuit Against Tangoe Inc
The law firm of Lieff Cabraser Heimann & Bernstein, LLP announced that class action litigation has been brought on behalf of all persons who purchased the securities of Tangoe, Inc. (Tangoe or the Company) between December 20, 2011 and September 5, 2012, inclusive (the Class Period). If you purchased or otherwise acquired Tangoe securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than April 30, 2013. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. share of any recovery in the action will not be affected by decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as counsel in the action. Full Article
Lifshitz Law Firm Announces Class Action Lawsuits Against Tangoe Inc
Lifshitz Law Firm announced that a class action suit was filed in the United States District Court for the District of Connecticut on behalf of all persons or entities who purchased Tangoe Inc securities between December 20, 2011 and September 5, 2012 (the Class Period). The Complaint alleges defendants misrepresented 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. Full Article
Saxena White P.A. Files Securities Fraud Class Action Against Tangoe Inc
Saxena White P.A. announced that it has filed a securities fraud class action lawsuit in the United States District Court for the District of Connecticut against Tangoe Inc on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from December 20, 2011 through September 5, 2012 (the Class Period). The complaint brings claims for violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and future prospects. In fact, Tangoe misled investors about core revenue growth and pace of organic, new customer growth. Full Article
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Tangoe Inc
Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the District of Connecticut on behalf of all purchasers of Tangoe Inc between December 20, 2011 and September 5, 2012, inclusive. 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. Full Article
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