On or around 10/09/2018 (Date of order of distribution of settlement)
Filing Date: May 24, 2016
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued false and misleading statements to investors and/or failed to disclose that: (1) defendants made errors in recognizing Tangoe’s revenue; (2) Tangoe’s financial results were overstated; and (3) as a result, statements about Tangoe’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
The Court appointed Lead Plaintiff and Counsel on January 11, 2017.
This case was transferred to the District Court for the District of Connecticut on January 30, 2017.
The parties entered into a Stipulation of Settlement on October 3, 2017. Preliminary approval was granted on November 13. On April 4, 2018, the Court issued a ruling from the bench granting final approval for the Settlement. On October 9, the Court issued an Order granting the Motion for Distribution of Settlement funds.
Company & Securities Information
Defendant: Tangoe, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: TNGO
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.