Attorney Mark C. Santi files Securities Arbitration Claim on Behalf of Elderly North Dakota Investors against Questar Capital Corporation and Steven R. Knuttila
On July 22, 2014, commercial litigator and securities attorney Mark C. Santi with JUX Law Firm filed a Statement of Claim in securities arbitration on behalf of two elderly investors from North Dakota. The Statement of Claim was filed with the Financial Industry Regulatory Authority (“FINRA”) and alleges that Steven R. Knuttila and his former employer, Questar Capital Corporation, engaged in a pattern of highly unsuitable trading in the elderly investors’ account. In particular, the Statement of Claim alleges over-concentrated positions of highly risky and illiquid real estate investment trusts (REITS), along with other investments, which have substantially decreased in value. The Statement of Claim alleges that violations of several industry rules (including FINRA and NASD rules) and North Dakota laws resulted in a substantial depletion of the elderly couples’ nest egg. The Claim will be heard by a three-person arbitration panel.