SAN DIEGO, March 20, 2014 /PRNewswire/ -- Shareholder
rights attorneys at Robbins Arroyo LLP announce that the firm filed
a class action lawsuit on February 27,
2014, in the U.S. District Court, Southern District of
New York (the "Court"), on behalf
of the shareholders of Tower Group International, Ltd. ("Tower
Group") (NASDAQ: TWGP) against Tower Group, its Board of Directors,
ACP Re, Ltd. ("ACP Re"), AmTrust Financial Services, Inc., and
London Acquisition Company Limited for, among other things,
violations of sections 14(a) and 20(a) of the Securities and
Exchange Act of 1934 (the "Exchange Act") in connection with the
proposed acquisition of Tower Group by ACP Re.
The complaint arises out of a January 6,
2014 press release announcing that Tower Group had entered
into a definitive merger agreement with the ACP Re, pursuant to
which Tower Group shareholders would receive $3 in cash for each share of Tower Group they own
(the "Proposed Transaction"). The complaint seeks injunctive relief
on behalf of the named plaintiff and all other similarly situated
shareholders of Tower Group as of January 6,
2014 (the "Class"). The named plaintiff is represented by
Robbins Arroyo LLP.
The named plaintiff alleges that certain of the defendants, in
connection with the Proposed Transaction, breached or aided and
abetted the other defendants' breaches of their fiduciary duties of
loyalty and due care owed to Tower Group shareholders. The
complaint further alleges that, in an attempt to secure shareholder
approval of the Proposed Transaction, the defendants filed a
materially false and misleading preliminary proxy statement on
Schedule 14A with the U.S. Securities and Exchange Commission in
violation of the Exchange Act and their state law fiduciary duties
of candor and full disclosure. The omitted and/or misrepresented
information is believed to be material to Tower Group shareholders'
ability to make an informed decision whether to approve the
Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the Court
no later than sixty days from March 20,
2014. If you wish to discuss this action or have any
questions concerning this notice or your rights or interests,
please contact attorney Darnell R.
Donahue of Robbins Arroyo LLP at 800-350-6003, via the
shareholder information form on our website, or by e-mail at
info@robbinsarroyo.com. Any member of the Class may move the Court
to serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent Class member.
Robbins Arroyo LLP, a nationally recognized leader in the area
of shareholder rights litigation, represents individual and
institutional investors in securities class action lawsuits and
shareholder derivative actions. Robbins Arroyo LLP has helped its
clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Past results do not guarantee similar outcomes. For more
information about the firm, please go to
http://www.robbinsarroyo.com.
Press release link:
www.robbinsarroyo.com/shareholders-rights-blog/tower-group-international-ltd
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
SOURCE Robbins Arroyo LLP