NEW YORK, NY / ACCESSWIRE / March 28, 2016 / Pomerantz LLP is investigating claims on behalf of investors of Tangoe, Inc. ("Tangoe" or the "Company") (NASDAQ: TNGO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Tangoe and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 7, 2016, post-market, Tangoe announced that the company is restating its financial and operating results for 2013, 2014, and the first three quarters of 2015, and that the company does not expect to timely file its 2015 annual report on March 15, 2016. The company stated that, "[t]he decision to restate these financial statements is based on the Company's conclusion that it made errors in recognizing revenue, primarily from business activities that are ancillary to the Company's core business. A majority of the errors relate to non-recurring revenue. . . . As a result of these corrections, the Company is revising its revenue recognition policies for several categories of revenue."
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SOURCE: Pomerantz LLP