Tangoe (TNGO) Takes Another Blow
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Price: $14.34 -0.49%
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade TNGO Now!
Shares of Tangoe, Inc. (NASDAQ: TNGO) are taking another leg lower after another independent research firm trashed the company.
In a new report, Copperfield Research said "After doing a deep dive into Tangoe's financials, it is our belief that the company has significantly misrepresented its de novo growth rate, while demonstrating many of the telltale shenanigans and behavior that tends to be a harbinger for blow ups. We believe that an SEC investigation may be warranted based on our belief Tangoe publicly misrepresented its organic growth rates, and altered material biographic information, in front of a large secondary offering."
Tangoe was the recent target of theStreetSweeper.org, which published the first article in a two-part series last week.
Link to Copperfield Research report.
Shares of TNGO are down 11 percent.
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In a new report, Copperfield Research said "After doing a deep dive into Tangoe's financials, it is our belief that the company has significantly misrepresented its de novo growth rate, while demonstrating many of the telltale shenanigans and behavior that tends to be a harbinger for blow ups. We believe that an SEC investigation may be warranted based on our belief Tangoe publicly misrepresented its organic growth rates, and altered material biographic information, in front of a large secondary offering."
Tangoe was the recent target of theStreetSweeper.org, which published the first article in a two-part series last week.
Link to Copperfield Research report.
Shares of TNGO are down 11 percent.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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