Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until
October 21, 2013
to file lead plaintiff applications in securities class action lawsuits against Tower Group International, Ltd. (Nasdaq: TWGP) pending in the United States District Court for the Southern District of New York, if they purchased the Company’s securities during the expanded period between May 10, 2011 and September 17, 2013, inclusive (the “ Expanded Class Period”).
What You May Do
If you purchased shares of Tower Group and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (
) or KSF Partner Melinda Nicholson (
). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by
October 21, 2013
About the Lawsuit
Tower Group and certain of its executives are charged with issuing a series of materially false and misleading statements during the Expanded Class Period, violating federal securities laws.
On August 7, 2013, Tower Group announced that it was postponing the release of its second quarter 2013 financial results. On August 8, 2013, the Company disclosed that it may record an adverse reserve development of $60-$110 million pre-tax and that it had hired an independent actuarial firm to review selected areas of its loss reserves. Then, on September 17, 2013, Tower Group stated that it planned to release its second quarter 2013 financial results during the week of October 7, 2013. Following this news, the Company’s share price has fallen drastically.
About Kahn Swick & Foti, LLC