BKF Capital Group, Inc. Announces Settlement Agreement in Principle with the United States over Legacy
CERCLA Lawsuits
BKF Capital Group, Inc. (OTC: BKFG), a closely-held holding company that provides capital primarily in the form of share
ownership, today announced that it has reached a comprehensive settlement agreement in principle to resolve two civil complaints
filed by the United States asserting that BKF Capital Group is allegedly liable for remediation costs under the Comprehensive
Environmental Response, Compensation, and Liability Act (CERCLA).
Under the preliminary settlement, BKF will pay $725,000 covering both cases, and will receive a full release from further
liability on tracts of land now known as the Avon Park Air Force Range. Predecessors to BKF Capital Group owned the land until 1942
when it was transferred to the United States Government pursuant to a Judgment on Declaration of Taking.
“We believe that the Company had valid factual and legal defenses to these complaints and we were prepared to vigorously defend
the claims,” stated Steven N. Bronson, CEO of BKF Capital Group, Inc. “However, CERCLA cases can be very expensive to litigate and
we believe the settlement represents the best course of action to move the Company forward unimpeded by the costs and distractions
of managing the lawsuits.”
The settlement is subject to the negotiation and approval of a Consent Decree, which will be presented to the District Court
(Middle District of Florida) in the normal course. Cash payment of the settlement obligation is not expected to occur until Q2 of
2019.
About BKF Capital Group, Inc.
BKF Capital Group, Inc. is a holding company that invests in innovative and high-growth technology companies. We make capital
investments through our wholly owned subsidiary, BKF Asset Holdings, Inc. Our most prominent assets are Interlink Electronics, Inc.
(NASDAQ:LINK), a global leader in human-machine interface and sensor technologies, and Qualstar Corporation (NASDAQ:QBAK), a
leading manufacturer of data storage solutions and high-efficiency power supplies.
Our principal executive office is located at 31248 Oak Crest Drive, Suite 110, Westlake Village, CA 91361. The Company's
securities were registered under Section 12(g) of the Securities Exchange Act of 1934. On May 20, 2015, we filed Form 15 to
terminate the registration and reporting obligations under Section 12(g). Since May 20, 2015, we make available our annual
financial statements, quarterly financial statements, and other significant reports and amendments to such reports, free of charge,
on our website as soon as reasonably practicable after such reports are prepared. Our website address is
www.bkfcapital.com.
Forward Looking Statements
This release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company’s views on future financial
performance and are generally identified by phrases such as “thinks,” “anticipates,” “believes,” “estimates,” “expects,” “intends,”
“plans,” and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These
statements are based upon, among other things, assumptions made by, and information currently available to, management, including
management’s own knowledge and assessment of the Company’s industry, competition and capital requirements. Other factors and
uncertainties that could affect the Company’s forward-looking statements include, among other things, the following: our success in
predicting markets and success of the companies we invest in; efficient management of our infrastructure; the pace of technological
developments and industry standards evolution and their effect on our market choices; competition by alternative sophisticated as
well as generic investors; risks of international investments and operations including fluctuations in exchange rates; and
compliance with regulatory requirements applicable to our operations. These and other risks are more fully described in the
Company’s most recently filed quarterly financial statements, which should be read in conjunction herewith for a further discussion
of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company
undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
BKF Capital Group, Inc.
IR@bkfcapital.com
Steven N. Bronson, CEO
805-623-4184
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