LaBranche Investors Settle Over $192M Cowen Deal

Law360, New York (December 7, 2011, 9:23 PM EST) -- Cowen Group Inc. has settled a class action brought by LaBranche & Co. Inc. shareholders accusing the company of undervaluing LaBranche in its $192 million purchase of the financial services company, Cowen Group announced Wednesday.

The settlement will provide $350,000 to the class of LaBranche investors who held stock between August 2010 and June this year, according to a joint stipulation filed in New York state court by the parties Oct. 26. That amount will go toward attorneys' fees and expenses, the parties said.

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