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Erik Pica: Investor Complaints Include Unsuitable ETF, Unauthorized Stock Trades

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Erik PicaPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 10, 2018 indicate that New York-based broker Erik Pica has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Pica (CRD# 4829533).

Erik Pica has spent 13 years in the securities industry and is currently based in New York, New York. His previous registrations include Global Arena Capital Corporation in New York, New York (2012-2015); First Midwest Securities in New York, New York (2009-2012); Chicago Investment Group in New York, New York (2008-2009); and Eastbrook Capital Group in New York, New York (2004-2008). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 8, 2004, and Series 7 (General Securities Representative Examination), which he obtained on October 1, 2004. He is a registered broker with 43 US states and territories.

According to his BrokerCheck report, he has received one customer complaint and four pending customer complaints.

In May 2018 a customer alleged Erik Pica, while employed at Global Arena Capital Corporation, recommended an unsuitable leveraged ETF, was negligent in his supervisory duties, and over-concentrated the account. The customer is seeing $293,000 in damages in the pending complaint.

In April 2018 a customer alleged Erik Pica executed unauthorized trades of shares in Rite Aid Corporation and Valeant Pharmaceutical. The customer is seeking more than $7,600 in damages in the pending complaint.

In March 2018 a customer alleged Erik Pica recommended unsuitable and “highly speculative” investments, churned the account, and was negligent in his supervisory duties. The customer is seeking $500,000 in damages in the pending complaint.

In July 2017 a customer alleged he failed to treat the customer in a just and equitable manner, breached his fiduciary duty, breached contract, acted negligently, and misrepresented material facts. The customer is seeking $120,000 in damages in the pending complaint.

In 2011 a customer alleged he, while employed at First Midwest Securities, recommended an investment in an exchange-traded fund which the customer did not fully understand, and which Mr. Pica represented that he owned. The complaint settled for $4,999.

If you have lost money investing with Erik Pica, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.