BERKELEY, Calif.--(EON: Enhanced Online News)--Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors of the ongoing investigation into Tower Group International, Ltd. (NASDAQ: TWGP) (“TWGP” or “the Company”) for securities fraud following TWGP’s postponed financial results and anticipated reserve change after a recent merger. Investors who have suffered losses and wish to discuss the matter with an attorney can contact Hagens Berman by emailing TWGP@hbsslaw.com.
“review matters relating to the estimate of its loss reserves”
Investors who purchased TWGP stock between May 9, 2011, and Aug. 8, 2013 (the “Class Period”), inclusive, and who have losses exceeding $100,000 may qualify to be a lead plaintiff. The lead plaintiff deadline for the case is Oct. 21, 2013. For more information investors are invited to contact Hagens Berman Partner Reed Kathrein, who is leading the Firm’s investigation, by calling (510) 725-3000.
Additional information is available at http://hb-securities.com/investigations/TWGP.
Hagens Berman’s investigation centers on TWGP’s Aug. 7, 2013 announcement, in which the company told the public it would postpone releasing its Q2 2013 financial results because it needed more time to “review matters relating to the estimate of its loss reserves,” among other reasons. The next day, the company disclosed guidance for Q2 2013, including adverse reserve development between $60-$110 million.
Since that announcement, the price of Tower Group stock has fallen by over two-thirds and is currently trading around $8.00 per share.
Persons with non-public information may want to consider their options to help in the investigation or take advantage of the SEC Whistleblower Program. Under the new SEC Whistleblower Program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities including New York, where this lawsuit has been filed. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The Firm’s Securities Newsletter is at http://www.hb-securities.com/newsletter