Jason Zahtila (Jason Luke Zahtila CRD#: 4009691) is a currently registered broker and investment advisor employed with American Capital Partners, LLC (CRD#: 119249) of Hauppage, NY. His previous employers include JW Genesis Financial Services, Inc. (CRD#:11025) of St. Louis, MO and Morgan, Taylor & Associates, Inc. (CRD#:37447) of Mineola, NY. He has been in the industry since 2000.
Zahtila is the subject of eight disclosures, all customer disputes. The most recent is a pending dispute, filed on 10/26/2020, alleging “unsuitable investments, churning and commission charges” with requested damages of $900,000.00. Zahtila denies the allegations and intends to defend himself in the matter.
A previous disclosure filed on 2/12/2015 by a different client had similar allegations of unsuitability and churning. The client requested damages of $384,224.87, and the claim was settled through mediation for $80,000 to avoid the cost of litigation.
A third disclosure filed on 5/17/2011 included allegations of fraud, breach of contract and breach of fiduciary duty. The client requested damages of $100,000 and settled for $42,500. Although the firm settled the claim to avoid the expenses of litigation, Zahtila and American both dispute the allegations.
Another customer claim of “unsuitability” was filed on 11/3/2009, requesting damages of $900,000, and settled for $120,000. Again, Zahtila denied the allegations.
Allegations of misrepresentation, negligence and breach of fiduciary duty by Zahtila were filed in a complaint on 5/15/2002. The firm settled the claim in arbitration for the requested amount of $4,200.
Still another client filed “unauthorized trading in Nextel stock” allegations on 2/2/2002, requesting $250,000 in damages. Zahtila settled with the client in arbitration for $100,000 to avoid the expense of litigation.
The dispute filed on 2006 regarding a stop-loss was denied, and no settlement payment was made.
Allegations Of Churning
The two most recent disputes against Zatila include allegations of churning, which is a serious issue in the securities industry.
Otherwise known as excessive trading, churning occurs when a stockbroker buys and sells securities in a customer’s account solely for the purpose of generating commissions, and it is a violation of securities laws and FINRA Rules.
Have You Invested With Jason Zatila?
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