Jason H. Klabal, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., disclosed several customer initiated investment related arbitration claims. Specifically, on November 17, 2015, Klabal settled a customer initiated investment related arbitration claim for $50,000.00 in damages based upon allegations that Klabal was responsible for the customer’s losses on an equity investment.
FINRA Public Disclosure reveals that Klabal has been subject to nine customer initiated investment related arbitration claims and has a history of association with questionably brokerage firms.
On April 24, 2015, Klabal settled a customer initiated investment related arbitration claim for $50,000.00 in damages based on allegations that Klabal churned the customer’s investment account, breached his fiduciary obligations, and misappropriated the customer’s funds. On May 20, 2014, a customer was awarded $41,566.73 in damages in a customer arbitration claim containing allegations that Klabal generated excessive commissions, made unsuitable investment recommendations, negligently managed the customer’s assets, and churned the customer’s account.
On January 27, 2014, Klabal settled a customer initiated investment related arbitration claim for $85,000.00 based upon allegations against Klabal of churning, making misrepresentations to the customer concerning purchases and sales of securities, negligently handling the customer’s account, and breaching his contractual and fiduciary obligations to the customer. Klabal settled a customer initiated investment related arbitration claim for $6,500.00 on January 23, 2014, based upon allegations against Klabal of making unsuitable investment recommendations to the customer, churning the customer’s account, generating excessive commissions, and negligently managing the customer’s investments.
On January 10, 2014, Klabal settled a customer initiated investment related arbitration claim for $50,000.00 based upon allegations that Klabal made misrepresentations to the customer concerning investments, and his mismanagement and churning of the customer’s account led the customer to bear losses. On March 6, 2001, Klabal resolved a customer initiated investment related arbitration claim for $9,500.00 based upon allegations against Klabal of effecting unsuitable investment transactions.
Klabal was terminated in July of 2016 from Legend Securities, Inc. Since June of 2016, he has been a stockbroker registered with Alexander Capital, L.P.
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