September 2019 – Brookfield, Wi
The FINRA records of Stephen Douglas Pizzuti (CRD #1461660) a stockbroker who formerly was employed by Freedom Investors Corp. disclose 3 final regulatory events and 8 prior customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In July of 2013 FINRA commenced an investigation that “Pizzuti disseminated securities related communications to the public that contained material omissions and/or materially misleading information. Pizzuti made these communications through websites that he controlled. Through the websites Pizzuti marketed a subscription based “stock analyzer” that used “computational algorithms” to identify with “the highest alpha and strongest performance”. However Pizzuti failed to provide a sound basis for potential investors to evaluate his product, and failed to present a balanced statement of it’s benefits and it’s risks. Pizzuti’s statements were exaggerated and misleading because they falsely implied that investors that did not purchase his system were being taken advantage of by professional investors…….” FINRA imposed sanctions of a 3 month suspension and a fine of $15,000 to be paid personally.
In April of 2002, an Allen Douglas Securities customer filed a complaint alleging breach of contract, common law fraud, constructive fraud through breach of fiduciary duty, negligence and gross negligence in the amount of $345,194. A FINRA arbitration panel awarded the customer $250,000.
Pizzuti was employed by Freedom Investors Corp. from 12/2013-3/2017. Pizzuti discloses a business affiliation with Evaluvest Insurance Services of Longwood, FL.
If you have losses in an account handled by Stephen Douglas Pizzuti , call for a no charge consultation to learn your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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