John F. Riccardi Jr of New York New York a stockbroker formerly registered with Windsor Street Capital LP is named in a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $250,000.00 in damages based on Riccardi and Windsor Street Capital being found liable on the customer’s causes of action including breach of contract and negligence in regard to alternative investment purchases. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00620 (June 25, 2020).
According to the Statement of Claim, the customer had been placed into Fifth Street Finance Corp Inc., SignPath Pharma, International Metal, and Carter Validus Mission Critical REITs (CVMC REIT II). Windsor Street Capital allegedly failed to supervise Riccardi’s involvement in the customer’s account which led the customer to maintain an overconcentration of those investments. The claim also alleges fraud and breach of fiduciary duty.
Riccardi has been identified in three additional customer initiated investment related disputes containing accusations of his wrongdoing while employed by Meyers Associates and Windsor Street Capital. FINRA Public Disclosure confirms that a customer filed an investment related complaint involving Riccardi’s activities where the customer sought $34,000.00 in damages founded on allegations that unsuitable recommendations of stocks caused the customer to experience losses.
Another customer filed an investment related complaint involving Riccardi’s activities in which the customer requested $100,000.00 in damages based upon accusations that the customer was forced to pay an excessive commission on stock transactions executed by Riccardi at Meyers Associates.
Riccardi is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer was awarded $114,754.63 in compensatory damages based on Windsor Street Capital being found liable for causing the customer’s losses. FINRA Arbitration No. 17-00756 (Oct. 2, 2018). The Statement of Claim contains counts of breach of fiduciary duty, misrepresentation, and violation of FINRA Rules and federal securities laws as it pertained to the customer’s investments in private placements and penny stocks. The claim alleges that the customer’s long-term growth objectives rendered those investments unsuitable.
FINRA Public Disclosure also confirms that Riccardi has been investigated by FINRA for fraud as of November 14, 2016. Wells Notice Exam No. 20160489127. FINRA initially recommended that Riccardi face disciplinary action for potentially violating Securities Exchange Act of 1934 Section 10(b), Securities and Exchange Commission (SEC) Rule 10b-5, and FINRA Rules 2010 and 2020. The stockbroker has also been suspended by FINRA from associating with any FINRA member in any capacity as of August 27, 2020 supported by allegations of his failure to pay a FINRA Arbitration Award.
Riccardi was registered with Windsor Street Capital between July 21, 2006 and May 31, 2018. He was associated with Joseph Stone Capital LLC between May 17, 2018 and June 4, 2018.