Michael Lickiss Jr. Lawsuits, Complaints, and Allegations of Investment Losses
The White Law Group is investigating potential securities claims involving former Arkadios Capital broker Michael Lickiss Jr. (CRD #5135936), after numerous customer complaints and allegations of unsuitable investment recommendations.
Michael Lickiss Jr.: Background
According to FINRA’s BrokerCheck, Michael Lickiss Jr. has been a registered broker since 2006 and was associated with Arkadios Capital in Danville, California from 2021 to 2024. He has also worked with several other FINRA-registered firms including Purshe Kaplan Sterling.
His record shows multiple customer disputes, many of which center on allegations involving “Debt instruments/Fictitious notes” and promissory notes that may not have been suitable for retail investors.
Customer Complaints and Allegations
Lickiss reportedly has at least 8 customer complaints disclosed on his FINRA BrokerCheck report. Allegations include:
- Unsuitable investment recommendations
- Misrepresentation and omission of material facts
- Breach of fiduciary duty
- Negligence and failure to supervise
Several of these complaints reportedly involve alternative investments such as promissory notes. Some of the complaints have reportedly been settled for significant amounts, while others are still pending.
The Risks of Arkadios Capital’s Alternative Investments
Firms like Arkadios Capital have a legal responsibility to perform due diligence on the investments they offer and to ensure that investment recommendations are suitable for each individual client. Failure to uphold these responsibilities may result in liability for investment losses.
Broker-Dealer Liability and Supervision
FINRA rules require broker-dealers to adequately supervise their representatives. If a financial advisor sells unsuitable products or engages in misconduct, and the firm fails to detect or prevent it, the firm itself can be held liable in a FINRA arbitration claim.
Filing a FINRA Arbitration Claim Against Arkadios Capital
If you invested with Michael Lickiss Jr. and suffered losses, you may be eligible to recover your damages through FINRA arbitration, a forum for resolving disputes between investors and brokerage firms.
The White Law Group has handled hundreds of claims involving complex alternative investments and negligent supervision by broker-dealers like Arkadios Capital.
Free Consultation
If you believe you were misled or unsuitably advised by Michael Lickiss Jr. or Arkadios Capital, please call The White Law Group at 888-637-5510 for a free consultation. You can also visit us at www.whitesecuritieslaw.com for more information.
FINRA Arbitration vs. Class Action – What’s the Difference?
Unlike class action lawsuits, which aggregate claims, FINRA arbitration allows individual investors to bring claims for personal investment losses. Most brokerage firms require investors to agree to mandatory arbitration through FINRA when opening an account. This process can often be faster and more cost-effective than traditional litigation.
FAQs – Michael Lickiss Jr
How can I recover investment losses from Arkadios Capital?
You may be able to recover losses by filing a FINRA arbitration claim against the firm for failure to supervise or selling unsuitable investments.
Is there a deadline to file a claim?
Yes. FINRA arbitration claims are subject to eligibility and statute of limitations rules, so it’s important to seek legal advice as soon as possible if you believe you’ve suffered investment losses.
About The White Law Group
The White Law Group is a national securities fraud and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. We represent investors throughout the U.S. in FINRA arbitration claims against brokerage firms and financial advisors.
For more information about your potential claim involving Michael Lickiss Jr. or Arkadios Capital, please visit www.whitesecuritieslaw.com.
Last modified: June 17, 2025
