LOS ANGELES, Sept. 27, 2013 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP, representing investors of Tower Group International, Ltd. and its predecessor company, Tower Group Inc. (collectively, "Tower Group" or the "Company") (Nasdaq:TWGP), announces that all purchasers of Tower Group securities between May 9, 2011 and August 7, 2013, inclusive (the "Class Period'), have until October 21, 2013 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of New York.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER OR IF YOU PURCHASED TOWER GROUP SECURITIES PRIOR TO THE CLASS PERIOD. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Tower Group is a Bermuda-based company that underwrites insurance and reinsurance products including commercial, personal and specialty insurance in Bermuda, the United States and London markets. The Complaint alleges that during the Class Period defendants issued false and misleading statements or failed to disclose that: (1) the Company failed to properly estimate its loss reserve provisions as required by Generally Accepted Accounting Principles, and (2) the Company failed to properly allocate its goodwill and certain deferred tax assets.
If you are a member of the Class described above, you may move the Court no later than October 21, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
To learn more about this action, if you have any questions concerning this Notice or your rights or interests with respect to these matters, or if you purchased Tower Group securities prior to the Class Period, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
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