Cowen Group, Inc. Reaches Settlement with Former Shareholders of LaBranche & Co Inc.

NEW YORK, Dec 07, 2011 (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.

SOURCE: Cowen Group, Inc.

Sard Verbinnen & Co
Dan Gagnier, (212) 687-8080
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