A Deadline is coming up on October 21, 2013 in the lawsuit for investors in Tower Group International, Ltd. (NASDAQ:TWGP) and NASDAQ:TWGP stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 10/14/2013 --A deadline is coming up on October 21, 2013 in the lawsuit filed for investors in shares of Tower Group International, Ltd. (NASDAQ:TWGP) over alleged securities laws violations by Tower Group International

Investors who purchased shares of Tower Group International, Ltd. (NASDAQ:TWGP) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers 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.

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 $3.721 per share on Oct. 9, 2013.

On Oct. 11, 2013, NASDAQ:TWGP shares closed at $4.49 per share, which is significantly below its current 52 week High of $22.30 per share.

Those who purchased shares of Tower Group International, Ltd. 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