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Investment Co. Released From Lernout Lawsuit

Law360 (November 7, 2008, 12:00 AM EST) -- A federal judge on Thursday dismissed an investment banking and managing company from a securities lawsuit alleging a speech-recognition company fraudulently inflated its earnings to the tune of hundreds of millions of dollars.

Cowen and Co. LLC was dismissed with prejudice in accordance with a motion filed by plaintiff Rocker Management LLC in the U.S. District Court for the District of New Jersey.

According to the amended complaint in the case, filed in April 2002, Lernout & Hauspie Speech Products NV, a Belgian-American company, together with...
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