Robbins 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 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 LLP at 800-350-6003, or you can complete the form below and we will contact you directly.
