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Stock Market & Financial Investment News

News Breaks
February 12, 2013
18:27 EDTTWGPTower Group sees Q4 after-tax loss from Superstorm Sandy $79M-$81M
Tower announced that it expects its after-tax loss in the fourth quarter of 2012 from Superstorm Sandy to be between $79M-$81M, an increase from the range of $55M-$68M that the company announced on November 7, 2012. The increase is principally due to approximately $6M after-tax in higher estimated loss adjustment expenses on Tower's direct business, along with a $5M after-tax increase in the amount of storm losses covered under its assumed reinsurance business and in certain of its alternative investments. Through February 8, Tower has closed 89% of the 24,000 claims that its stock companies received as a result of Superstorm Sandy. Tower received 99% of these claims prior to January 26.
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August 29, 2014
17:34 EDTTWGPTower Group receives subpoena, being investigated by SEC
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August 26, 2014
11:12 EDTTWGPHigh option volume stocks
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August 20, 2014
11:09 EDTTWGPHigh option volume stocks
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August 19, 2014
17:02 EDTTWGPTower Group receives Nasdaq notice regarding listing requirements
Tower Group International announced that it received a notification letter from The Nasdaq Listing Qualification Department on August 14, stating that because Tower has not yet filed its Form 10-Q for the period ended June 30 with the SEC, it was not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250c1. The Nasdaq notice has no immediate effect on the listing or trading of Tower's common stock on The Nasdaq Global Market. Under Nasdaq listing rules, Tower has 60 days to submit a plan to Nasdaq to regain compliance with the applicable listing rule. Tower currently expects to file the 10-Q with the SEC within approximately the next twenty days.

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