- A $(23.6) million net loss from discontinued operations related to exiting the businesses operated by LaBranche subsidiaries;
- A $7.2 million and $5.2 million impairment of goodwill and intangible assets, respectively, related to the broker-dealer segment;
- $3.9 million in non-cash expenses related to vacating the remaining portion of the leased premises at 1221 Avenue of the Americas;
- $1.1 million in non-cash expenses related to the termination of service contracts; and
- $10.6 million in severance expense related to our expense reduction plan (not including an additional $5.1 million of severance expense included in the net loss from discontinued operations discussed above).
Cowen Group, Inc. Announces 2011 Fourth Quarter And Full-Year Financial Results
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