Arthur Pizzello, Jr. Barred by SEC for Alleged Insider Trading

Arthur Pizzello, Jr. (CRD #: 1388112), a broker formerly registered with Osaic Wealth, has been barred by the SEC following a civil suit, according to his BrokerCheck record, accessed on April 4, 2025. If you have questions about his alleged conduct as a broker, keep reading.

Bar by SEC

On February 4, 2025, the Securities and Exchange Commission barred Arthur Pizzelo, Jr., following judgment being entered against him in a civil suit filed by the SEC.

The SEC alleged that Arthur Pizzelo received a tip from an executive vice president of Verano Holdings Corporation that the company would be acquiring Goodness Growth Holdings, and passed this information to two of his friends.

Arthur Pizzelo allegedly bought shares of stock in Goodness Growth Holdings between December 21, 2021 and January 28, 2022, before the acquisition was publicly announced on February 1, 2022.

Sanctions

The SEC barred Athur Pizzello from participating in penny stock offerings and from associating with the following:

• Brokers
• Dealers
• Investment advisers
• Municipal securities dealers
• Municipal advisors
• Transfer agents
• Nationally recognized statistical rating organizations (NRSROs)

These bars took effect on February 4, 2025.

SEC Civil Suit

On January 16, 2025, the SEC filed a complaint against Arthur Pizzello, Anthony Marisco, Robert Quattrocchi, and Timothy Carey, alleging that they engaged in insider trading.

In December 2021, Anthony Marisco allegedly served as an Executive Vice President at Verano Holdings Corporation, and learned that the company intended to acquire Goodness Growth Holdings, Inc., another operator of marijuana growth facilities and dispensaries. He allegedly informed Arthur Pizzello of this planned acquisition, who allegedly told Robert Qauttrocchi and Timothy Carey.

Between December 8, 2021, and January 31, 2022, each defendant allegedly purchased thousands of shares of Goodness Growth with this material nonpublic information in mind.

On February 1, 2022, Verano Holdings’ allegedly publicly announced its intention to acquire Goodness Growth in an all-stock transaction valued at approximately $413 million. Goodness Growth’s share price allegedly increased by almost 42% that day.

According to the SEC, Arthur Pizzello allegedly had unrealized gains totaling $124,456 due to this insider trading by the close of the market on the day of this announcement.

On October 14, 2022, Verano Holdings announced that it was terminating the planned acquisition of Goodness Growth.

Judgment filed against Arthur Pizzello in this civil action on January 17, 2025, enjoined him from future violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

Securities Exchange Act of 1934

Section 10(b) of the Securities Exchange Act of 1934 bans manipulative, deceptive, and otherwise fraudulent activities relating to the securities business. Within this section, Rule 10b-5 bans fraudulent schemes as well as untrue statements and omissions of fact that mislead investors.

Background Information

Arthur Pizzello has passed the following exams:

• Securities Industry Essentials Examination – SIE
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Securities Agent State Law Examination – Series 63

He previously worked for the following firms:

• Osaic Wealth (CRD#:23131)
• Triad Advisors (CRD#:25803)
• Kestra Investment Services (CRD#:42046)
• Financial Telesis Inc (CRD#:31012)
• Harbour Investments (CRD#:19258)
• AIG Financial Advisors (CRD#:133763)
• Prospera Financial Services (CRD#:10740)
• Mony Securities Corporation (CRD#:4386)
• LifeMark Securities Corporation (CRD#:16204)
• New England Securities (CRD#:615)
• Century Investors of America (CRD#:5322)

Kurta Law Can Help

If you worked with Arthur Pizzello, Jr. and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.