The SEC’s complaint, filed in federal court in Connecticut, charged Tangoe, its former CEO Albert Subbloie, former CFO Gary Martino, former Vice President of Finance Thomas H. Beach and Farias, the former senior vice president of expense management operations. Each individual allegedly violated provisions of federal securities laws.
Tangoe, Subbloie, Martino and Beach have agreed to settle the charges without admitting or denying the allegations. As a result, they will pay penalties of $1.5 million, $100,000, $50,000 and $20,000, respectively.
