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SEC v. First Jersey Securities, Inc. and R. E. Brennan

CASE NO. 85 CIV 8585 (RO) United States District Court for the Southern District of New York

Heffler Claims Group is currently engaged as the Claims Agent to distribute the disgorged funds resulting from the SEC vs. First Jersey Securities, Inc. and Robert E. Brennan litigation. The firm has maintained a database with the claimants’ investment information from the Spatola, et al. vs. First Jersey Securities, Inc., et al., civil action No. 85-6059. On December 3, 2004, Heffler Claims Group assisted in and oversaw the mailing of the Notice of Distribution Plan for Disgorged Funds (the “Notice”) approved by the Court on November 15, 2004, to over 82,871 names and addresses from the Spatola action. This claimant database along with additional records from claims filed from the Notice is also being used in distributing the Disgorged Funds collected by the SEC. Heffler Claims Group has assisted the SEC in developing a Plan of Distribution of Disgorged Funds (the “Plan of Distribution” or the “Plan”). On October 16, 2006, the firm issued Initial Pro Rata Distribution checks to 53,880 Recognized Claimants, totaling over $28 million, who had Class A and/or Class C securities only as defined in the Spatola action and as approved in the Plan of Distribution. The approved Plan allows for Subsequent Pro-Rata Distributions from unclaimed and/or additional funds. On December 28, 2007, in the First Subsequent Pro Rata Distribution, Heffler Claims Group issued 33,874 checks totaling over $5.6 million to claimants who had Class A, Class B and Class C securities. In July 2011,the firm issued the second subsequent Pro-Rata Distribution, totaling over $370,000 to more than 2,900 claimants.

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