Tower Group: "Substantial doubt" about going conern

|About: Tower Group, Inc. (TWGP)|By:, SA News Editor

"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."