A lawsuit was filed on behalf of investors in Tower Group International, Ltd. (NASDAQ:TWGP) shares over alleged securities laws violations. Deadline: October 21, 2013. NASDAQ:TWGP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 08/26/2013 --An investor, who purchased shares of Tower Group International, Ltd. (NASDAQ:TWGP), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Tower Group International, Ltd. in connection with certain allegedly false and misleading statements made between July 30, 2012 and August 8, 2013.

Investors who purchased a significant amount of shares of Tower Group International, Ltd. (NASDAQ:TWGP) between July 30, 2012 and August 8, 2013, and / or those who purchased NASDAQ:TWGP shares prior to July 2012 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: October 21, 2013. NASDAQ:TWGP investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of Tower Group International, Ltd. (NASDAQ:TWGP) between July 30, 2012 and August 8, 2013, that Tower Group International, Ltd. and certain of its executive officers violated the Securities Exchange Act of 1934.

More specifically, the plaintiff alleges, among other things, that defendants materially misrepresented and/or failed to disclose that Tower Group International, Ltd. allegedly failed to properly estimate its loss reserve provisions as required by Generally Accepted Accounting Principles, and that Tower Group International, Ltd. allegedly failed to properly allocate its goodwill and certain deferred tax assets.

Shares of Tower Group International, Ltd. (NASDAQ:TWGP) grew from $17.39 per share in March 2013 to $22.01 per share on August 1, 2013.

Then on August 7, 2013, Tower Group International, Ltd. postposed its second quarter release and conference call and on August 8, 2013, Tower Group International, Ltd. provided its guidance on its second quarter 2013 results. On August 9, 2013, Tower Group International, Ltd. filed a Notification of Late Filing on Form 12b-25 with the United States Securities and Exchange Commission.

Shares of Tower Group International declined from $21.75 per share on August 7, 2013, to as low as $15.10 per share on August 23, 2013.

Those who purchased shares of Tower Group International, Ltd. (NASDAQ:TWGP), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com