Jesup & Lamont. Inc. and Financial Northeastern Corporation Announce the Settlement of all Pending Claims and Legal Proceedings

Share Name	Share Symbol	Market	Type
Jesup & Lamont, Common Stock	AMEX:JLI	AMEX	Ordinary Share

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Jesup & Lamont, Common Stock

AMEX:JLI

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Jesup & Lamont. Inc. and Financial Northeastern Corporation Announce the Settlement of all Pending Claims and Legal Proceedings

08/10/2009 3:00pm

PR Newswire (US)

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NEW YORK, Oct. 8 /PRNewswire-FirstCall/ -- Jesup & Lamont, Inc., (AMEX: JLI), a full-service boutique brokerage and investment banking firm serving retail and institutional clients, and Financial Northeastern Corporation announced today that they have agreed to a settlement of all pending claims and legal proceedings. The parties have agreed that all prior restraints have been released. This settlement resolves court and arbitration proceedings initiated in November 2008 by the Financial Northeastern Companies against Jesup & Lamont, Inc., and others. About Jesup & Lamont, Inc. Established in 1877, Jesup & Lamont, Inc. has an extensive history on Wall Street, with its origins encompassing such successes as providing brokerage services to Standard Oil and raising capital for the construction of Rockefeller Center. Jesup & Lamont, through its two wholly owned brokerage subsidiaries, offers full service broker-dealer and registered investment advisory services through its approximately 150 registered brokers in over 20 locations including offices in New York, San Francisco, Boston, Boca Raton, Chicago, Fort Lauderdale and Orlando. The Company's Jesup & Lamont Securities Corporation subsidiary also publishes proprietary research on several industries including Aerospace/Defense, Alternative Energy and Life Sciences/Healthcare and offers comprehensive investment banking services. Forward-Looking Statement Disclaimer This press release contains "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risk, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause such a difference include, without limitation, fluctuations in the volume of transactional services provided by the Company, competition with respect to financial services commission rates, the effect of general economic and market conditions, factors affecting the securities brokerage industry as well as other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to revise or update any forward-looking statement. DATASOURCE: Jesup & Lamont, Inc. CONTACT: Donald A. Wojnowski, President, Jesup & Lamont, Inc., +1-212-307-2660,

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JLI Jesup & Lamont, Common Stock