Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Arthur Pizzello (Pizzello), previously associated with Osaic Wealth, Inc., has at least one disclosable event. These events include one tax lien, alleging that Pizzello recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on February 04, 2025.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Arthur P. Pizzello, Jr (‘Respondent’ or ‘Pizzello’). In anticipation of the institution of these proceedings, Respondent Pizzello has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. The Commission finds that on January 17, 2025, a judgment was entered by consent against Pizzello, permanently enjoining him from future violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, as set forth in the judgment entered in the civil action entitled Securities and Exchange Commission v. Arthur P. Pizzello, Jr, Civil Action Number 1:25-cv-553, in the United States District Court for the Northern District of Illinois. The Commission’s complaint alleged that between December 21, 2021 and January 28, 2022, Pizzello purchased shares of stock in Goodness Growth Holdings, Inc. (‘Goodness Growth’) based on material nonpublic information that Goodness Growth would be acquired by Verano Holdings Corporation (‘Verano’). Goodness Growth’s acquisition was announced on February 1, 2022. Pizzello had unrealized gains totaling $124,456.15. An executive vice president at Verano tipped Pizzello to the material nonpublic information regarding Goodness Growth’s acquisition of Verano. Pizzello also tipped two of his friends to the material nonpublic information regarding Goodness Growth’s acquisition of Verano.
