Court Room

Rushdi M. Zalatimo of Jersey City New Jersey a stockbroker currently employed by National Securities Corp has been identified in a customer initiated investment related arbitration claim where the customer sought $200,000.00 in damages founded on accusations that (1) unauthorized trades were effected in the customer’s account and (2) a fiduciary duty that was owed to the customer by Zalatimo had been breached as it pertained to private placements transactions effected when the stockbroker was employed by National Securities Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02174 (Sept. 3, 2019).

Zalatimo is referenced in two more customer initiated investment related disputes containing allegations of his wrongdoing while associated with JP Turner Company. FINRA Public Disclosure reveals that a customer initiated investment related arbitration claim involving Zalatimo’s conduct was settled for $75,000.00 in damages based upon allegations that transactions effected in the customer’s account were not suitable for the customer and that misrepresentations were made regarding Zalatimo’s over-the-counter equities transactions while associated with JP Turner Company.

Another customer initiated investment related arbitration claim pertaining to Zalatimo’s conduct was settled for $133,000.00 in damages supported by allegations of bad over-the-counter equities transactions effected by Zalatimo when he was employed by JP Turner Company.

According to the claim, high pressure sales tactics were used by the stockbroker to induce the customer’s acquiescence to trades which failed to be suitable for the customer. The customer’s account was allegedly churned. The claim also alleged that the customer’s financial status and net worth was falsely stated on documentation.