FOR IMMEDIATE RELEASE

Balestriere Fariello Files Class Action Complaint Against NASD:
Association Told Series 7 Exam Takers They Failed When They Had Actually Passed

NEW YORK, February 14, 2006

Balestriere Fariello today filed a class action complaint on behalf of 1,882 individuals who took the NASD Series 7 broker qualification exam during a period starting in late 2004 and ending in late 2005 and were told, wrongly, that they had failed the Series 7 when, in fact, the individuals had passed the exam.

John Balestriere, a partner at the firm, explained, "Nearly two thousand individuals, many of whom were early in their financial services careers and were eager to prove their worth, are victims of the NASD's gross negligence. Over 60,000 individuals took a flawed exam, with the members of the class suffering the harm to their reputation and business relationships that comes with failure of the exam. But these young people -- many of whom were fired, relocated, received lower bonuses, or lost raises -- actually passed the exam." Mr. Balestriere continued, "The NASD must make amends to these individuals."

Individuals who are members of the class continue to contact the firm. The firm asks that these individuals e-mail lawyers at the firm handling the continuing investigation and litigation at nasdcase@balestriere.net.

Balestriere Fariello is a trials and investigations law firm. The firm represents individuals, companies, and institutions in criminal and civil matters in trial and appellate courts, in intense negotiations, during arbitrations, and before grand juries, securities regulators, and government agencies. The firm also conducts internal investigations of alleged misconduct at companies and organizations, and provides monitoring services to companies in different industries. Balestriere Fariello combines a complex and sophisticated litigation background with hard nosed investigation experience and the ability to push cases to trial and win at trial. Our offices are located at 225 Broadway, Suite 2900 New York, NY 10007.

Contact:
Marc Natale
Chief of Staff
info@balestriere.net