Last Updated: December 2024 (Waco, TX)
Eric Adam Stiba Investigation Summary
Here’s what you need to know about Waco, TX stockbroker Eric Adam Stiba:
- Name: Eric Adam Stiba
- Current Employer: Lion Street Advisors, LLC; Lion Street Financial, LLC
- DBA: Stiba Wealth Management
- Prior Employers: Woodbury Financial Services
- Function: Stockbroker / Financial Advisor/ Registered Investment Advisor
- Primary Location: Waco, TX
- CRD Number: 5635690
- Can Eric Stiba be sued in FINRA arbitration: Yes
- Subject of Regulatory Investigation: Yes
- Highest Settlement or Award: $65,000
- Pending Customer Dispute Seeks Damages of: $200,000
If you’ve sustained damages from Mr. Stiba, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Eric Stiba As Your Stockbroker?
Several customers have filed complaints against Eric Stiba, including allegations of making unsuitable investment recommendations and misrepresentation of investment risks.
The pending case involves a claim related to alternative investments, with a claim seeking damages of $200,000. The claims are being handled through FINRA arbitration.
Allegations of Broker Misconduct Against Eric Stiba
Customers of Eric Stiba have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable investment recommendations
- Misrepresentation and omission of material facts
Detailed Information
Eric Stiba has settled several customer disputes and is currently the subject of a regulatory investigation.
- Customer Dispute: A customer filed a claim on September 21, 2023, alleging that Stiba recommended an unsuitable alternative investment in April 2020. The alleged damages were $100,000. The complaint was settled for $37,500 on March 7, 2024
- Customer Dispute: Another customer filed a complaint on November 21, 2022, alleging that Stiba recommended an unsuitable alternative investment in July 2020. The alleged damages were $100,000. The complaint was settled for $65,000 on October 19, 2023
- Customer Dispute: On December 5, 2022, a customer alleged that Stiba recommended an unsuitable alternative investment in January 2021. The alleged damages were $30,000. The complaint was settled for $30,000 on December 28, 2022, with Stiba contributing $27,500.
- Regulatory Investigation: On May 10, 2024, the United States Securities and Exchange Commission (SEC) initiated an investigation into Stiba for potential violations of Rule 15l-1(a)(2)(ii)(B) and Rule 15l-1(a)(1) under the Securities Exchange Act of 1934 related to recommendations of an alternative investment to certain clients. This investigation is currently pending.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Brokers and their firms have a duty to comply with FINRA rules, including the suitability rule (FINRA Rule 2111) and the obligation to observe high standards of commercial honor and just and equitable principles of trade (FINRA Rule 2010). Allegations such as unsuitable recommendations and misrepresentation suggest potential violations of these obligations.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Eric Adam Stiba, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.