NEW YORK, Sept. 9, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Tower Group International, Ltd. ("Tower Group" or the "Company") (Nasdaq:TWGP) common stock during the period between July 30, 2012 and August 8, 2013.
Click here to learn more about the investigation http://zlk.9nl.com/towergroup-twgp/, or call: 877-363-5972. There is no cost or obligation to you.
The Complaint alleges that during the Class Period defendants issued false and misleading statements and/or failed to disclose that: (a) the Company failed to properly estimate its loss reserve provisions as required by Generally Accepted Accounting Principles (GAAP), and (b) the Company failed to properly allocate its goodwill and certain deferred tax assets. The complaint alleges that when this information entered the market, it caused the price of Tower Group stock to fall more than 24%.
Shareholders of Tower Group have until October 21, 2013 to seek appointment as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/towergroup-twgp/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP