COWN » Topics » Litigation and Related Costs

This excerpt taken from the COWN 10-K filed Mar 30, 2007.

Litigation and Related Costs

Litigation and related costs increased $51.8 million to $6.9 million for the year ended December 31, 2005 compared with $(44.8) million in 2004. The variance in litigation and related costs was attributable to the accrual for insurance recoveries and the net reversal of previously accrued reserves associated with the settlement of certain litigation matters in 2004.

This excerpt taken from the COWN 10-Q filed Nov 14, 2006.

Litigation and Related Costs

Litigation and related costs decreased $2.2 million, or 41.7%, to $3.1 million for the nine months ended September 30, 2006 compared with $5.3 million in the nine months ended September 30, 2005. This decrease in litigation and related costs was primarily attributable to elimination of certain expenses which are now covered under the indemnification agreement with SG.

This excerpt taken from the COWN 10-Q filed Aug 24, 2006.

Litigation and Related Costs

Litigation and related costs increased $0.8 million, or 76.2%, to $1.9 million for the six months ended June 30, 2006 compared with $1.1 million in the first half of 2005. This increase in litigation and related costs was attributable to increased legal fees associated with matters that will be subject to payment from the escrow account and our right to indemnification by Société Générale, regulatory matters and legal fees associated with the establishment of our new office in London.

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