Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
NEW YORK, May 31, 2017 -- Attorney Jonathan Kurta filed a claim earlier this week before the Financial Industry Regulatory Authority, or FINRA, against Capital Financial Services and Questar Capital Corporation. The arbitration claim, filed by two retirees, alleges that financial advisor Steven Knuttila overconcentrated his clients in unsuitable and illiquid investments. Mr. Knuttila has been a financial advisor for nineteen years and is based in Perham, Minnesota. The complaint seeks unspecified money damages due to Mr. Knuttila’s alleged recommendation to concentrate his clients’ portfolios in illiquid private placements, including several oil and real estate investments.
The products at issue were “non-traded,” high risk securities. Non-traded securities disproportionally benefit brokerage firms, who receive larger commissions, while harming investors who are often surprised to learn that they cannot easily liquidate these securities. According to Jonathan Kurta, “this liquidity problem is a particularly troublesome for older investors, who may need access to cash for health care or other unforeseen changes in their lifestyle.”
This is the second customer arbitration that Jonathan Kurta’s law firm, Fitapelli Kurta, has filed against Mr. Knuttila. In addition to the two customer complaints filed by Fitapelli Kurta, Steven Knuttila’s FINRA BrokerCheck report discloses twenty total customer complaints as well as a termination by Questar Capital. According to Jonathan Kurta, “unfortunately, it appears that our clients are among many others who lost money as a result of Steven Knuttila’s alleged wrongdoing and the alleged conduct may have been part of a larger pattern of harming investors in order to generate large commissions.”
Jonathan Kurta is a partner of Fitapelli Kurta, a national law firm, that focuses exclusively on representing investors before FINRA, or the Financial Industry Regulatory Authority. If you would like to know more about this case, please contact Jonathan Kurta at 212-658-1502.
ATTORNEY ADVERTISING
PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME
