EKN Financial Services, Inc. Announces It Will Not Agree to Settle for a Reduced Amount in Its $772,000 Arbitration Award Against Empire Financial Group, Inc., a Subsidiary of Jesup & Lamont, Inc.

November 18, 2008 8:30 AM EST

WOODBURY, N.Y., Nov. 18 /PRNewswire-FirstCall/ -- FINRA member EKN Financial Services, Inc. (EKN), formerly known as Ehrenkrantz King Nussbaum, Inc., today announced its response to the statement by Jesup & Lamont, Inc. (Amex: JLI), appearing in its third-quarter consolidated financial statement filed with the SEC last Friday ("Financial Statement"), that its subsidiary, Empire Financial Group, Inc. ("Empire"), may try to settle EKN's $772,000 Arbitration Award (the "Award") for a reduced amount.

EKN informed Empire last week, in response to overtures made to EKN before Jesup & Lamont, Inc. (Amex: JLI) filed its Financial Statement, that (a) EKN will not agree to settle with Empire and (b) EKN insists upon payment of the Award in full.

    EKN Financial Services, Inc.
    135 Crossways Park Drive, Suite 101
    Woodbury, New York 11797
    516-396-1234

SOURCE EKN Financial Services, Inc.

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