Subsequent Event

9 Months Ended

Sep. 30, 2011

Subsequent Event

Subsequent Event

(18) Subsequent Event

In October 2011, the Company incurred additional restructuring charges estimated at a range of $6.5 million to $7.5 million related to further workforce reductions and lease consolidation. The workforce reduction related to the reorganization of the U.S. Operations in which the Company combined certain business units and streamlined certain trading, sales and support functions. The lease consolidation primarily relates to a reduction in office space used following the reduction of approximately 100 employees earlier in 2011.

In the third quarter of 2011, the Company repurchased 950,000 shares for $10.4 million, or an average price of $10.92. As of September 30, 2011, the Company had 0.9 million shares available for repurchase under available authorizations.  In October 2011, the Company’s Board of Directors authorized the repurchase of an additional 4.0 million shares.  This additional authorization has no expiration date.  The specific timing and amount of repurchases will vary based on market conditions and other factors.