Jefferies: First Brands Related Losses Can Readily be Absorbed

Jefferies Financial says that it is confident that any losses or expenses from investments of Point Bonita’s accounts receivables or otherwise in respect of First Brands can readily be absorbed and do not threaten its financial condition or business momentum.

• Co releases letter from CEO, Rich Handler, and President, Brian Friedman regarding Point Bonita Capital and First Brands Group
• The First Brands situation could cause Jefferies financial loss over time in respect of its own indirect investments, legal costs
  • Jefferies’ investments effectively comprise $43 million, or 5.9%, of Point Bonita’s accounts receivables purchased from First Brands and $2 million interest ...