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Stock Market & Financial Investment News

News Breaks
May 14, 2014
07:53 EDTTWGPTower Group dismisses PwC, approves BDO as new accounting firm
Tower Group disclosed in a regulatory filing that on May 9 its Audit Committee dismissed PricewaterhouseCoopers as the company’s independent registered public accounting firm. "PwC’s reports on the consolidated financial statements of the company as of and for the years ended December 31, 2013 and 2012 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles except that the reports of PwC on the company’s financial statements as of and for the years ended December 31, 2013 and 2012 contained an explanatory paragraph which noted that there was substantial doubt as to the company’s ability to continue as a going concern," Tower Group stated. In a letter from PwC, dated May 13, attached in the filing, the accounting firm stated: "We agree with the statements concerning our Firm in such Form 8-K except with respect to the date of our dismissal. When we were informed of the auditor change on May 5, 2014, we were not informed that our dismissal was subject to any subsequent action by the company." Tower also disclosed that its Audit Committee approved the engagement of BDO as the company’s independent registered public accounting firm beginning with its first quarter ending March 31.
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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.
August 14, 2014
17:12 EDTTWGPMMCAP International reports 5.79% passive stake in Tower Group
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