Cowen group, inc. reaches settlement with former shareholders of labranche & co inc.

New york--(business wire)--cowen group, inc. (nasdaq: cown) (“cowen”) announced today that, as previously disclosed in its public filings, it has settled the shareholder litigation brought by former shareholders of labranche & co inc. (“labranche”) relating to the merger between labranche and cowen, which was consummated on june 28, 2011. the settlement is subject to approval by the supreme court of the state of new york, county of new york (the “court”). copies of the stipulation of settlement executed by the parties as well as the notice issued in connection with the settlement, which provides details of the settlement terms and the hearing before the court to consider its approval, are available on cowen’s website at http://www.cowen.com. about cowen group, inc. cowen group, inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative investment management, investment banking, research, and sales and trading services through its two business segments: ramius and its affiliates makes up the company’s alternative investment management segment, while cowen and company is its broker-dealer segment. its alternative investment management products, solutions and services include hedge funds, replication products, managed futures funds, fund of funds, real estate, health care royalty funds and cash management services. cowen and company offers industry focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors. founded in 1918, the firm is headquartered in new york and has offices located in major financial centers around the world.
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