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WILMINGTON, Del., May 25, 2017 -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Tangoe, Inc. (“Tangoe” or the “Company”) relating to the sale of the Company to Marlin Equity Partners (“Marlin”). On April 28, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which Marlin will acquire Tangoe in a merger, via a tender offer, worth approximately $242.6 million. As a result of the merger, Tangoe shareholders are only anticipated to receive $6.50 per share in cash in exchange for each share of Tangoe.
Andrews & Springer’s investigation thus far, has revealed that the process leading up to the announcement of the merger appears to have been flawed containing conflicts of interest. On January 3, 2017, Tangoe announced that it received two buyout offers that were higher than the current $6.50 per share consideration shareholders are expected to receive: 1. An offer from Marlin for $7.50 per share and 2. Clearlake Capital and Vector Capital for $7.00 per share.
Our investigation is also examining the inadequate consideration Tangoe shareholders are expected to receive. Stifel Nicolaus, Tangoe’s own financial advisor who issued a fairness opinion concluding that $6.50 per share was a fair price to shareholders, previously had an $8.00 per share price target set for Tangoe, but ultimately lowered in a follow-up report issued on May 1, 2017.
If you own shares of Tangoe and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/tangoe-class-action-investigation/ or contact Craig J. Springer, Esq. at [email protected], or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
Contact: Craig J. Springer, Esq. [email protected] Toll Free: 1-800-423-6013
