Tower Group: "Substantial doubt" about going conern


"There is substantial doubt about the company's ability to continue as a going concern," says Tower Group International (TWGP) as it announces a restatement of its 2011 and 2012 annual financials.

"Management has concluded ... that material weaknesses exist in internal control over financial reporting related to the company's loss reserving and premiums receivable reconciliation processes."

Comments (4)
  • Mike Maher
    , contributor
    Comments (2863) | Send Message
     
    Wow, bad news
    15 Nov 2013, 08:28 AM Reply Like
  • phands
    , contributor
    Comment (1) | Send Message
     
    Yesterday's news. many buying the bad news.
    15 Nov 2013, 09:24 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2863) | Send Message
     
    I was short from the 5's to down here, covered, now just hoping it goes back to 5 so I can get short again.
    15 Nov 2013, 09:29 AM Reply Like
  • monkey see
    , contributor
    Comments (617) | Send Message
     
    Going, going gone.
    15 Nov 2013, 10:34 AM Reply Like
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