We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Jesup & Lamont, Common Stock | AMEX:JLI | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
(Updates with no comment from chairman, number of employees, brokers; updates stock quote)
DOW JONES NEWSWIRES
The Financial Industry Regulatory Authority has ordered Jesup & Lamont Inc.'s (JLI) brokers to stop making trades, except liquidations, because of its securities subsidiary's capital deficiency.
Shares of the small investment bank and brokerage firm, which has 125 brokers and 200 total employees, closed down 21% Monday, at 16 cents. The stock has lost 62% this year.
Reached by phone late Monday, Chairman Steven Rabinovici declined to comment on Finra's notice received Friday that the securities unit of Jesup & Lamont was out of compliance with a Securities and Exchange Commission capital rule.
But in a statement Monday, the company, based in New York, said it is taking steps to regain permission to restart transactions. Jesup & Lamont added that it is seeking to show it has complied with the orders and hopes to resolve the issue soon.
The firm reported last month its revenue rose 58% but a first-quarter loss widened slightly on one-time expenses related to its proposed merger with New York merchant bank Tri-Artisan Partners LLC.
-By Tess Stynes and Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Tess.Stynes@dowjones.com;
1 Year Jesup & Lamont, Common Stock Chart |
1 Month Jesup & Lamont, Common Stock Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions