BALA CYNWYD, Pa., Oct. 3, 2013 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all those investors who purchased or otherwise acquired shares of Tower Group International Ltd. (Nasdaq: TWGP) ("Tower Group" or the "Company") between May 9, 2011 and August 7, 2013, inclusive (the "Class Period").
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The Complaint alleges that the defendants failed to disclose that Tower Group was improperly accounting for the Company's loss reserves, good will and tax accounts. This resulted in the Company's financial statements being deficient and misleading at all relevant times. On August 7, 2013, the Company disclosed that it was postponing the release of its financial results for the second quarter of 2013. Upon this news, shares of Tower Group stock fell almost 25 percent to close at $16.39 per share the following day.
If you are a member of the class described above, you may, not later than October 21, 2013, move the Court to serve as a lead plaintiff of the class, if you so choose. If you purchased shares of Tower Group stock during the Class Period and wish to discuss this action, you may e-mail or call the Law Office of Brodsky & Smith, LLC who will, without obligation or cost to you, answer your questions. Please contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/653-twgp-tower-group-international-ltd.html, by e-mail at firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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