ZimCal’s Open Letter to Medallion Financial Stockholders on the ISS and Glass Lewis Recommendations

ZimCal published an open letter to Medallion Financial stockholders outlining its concerns with the recommendations issued by ISS and Glass Lewis ahead of Medallion Financial Corp.‘s 2024 Annual Meeting. The rebuttal letter addresses the advisory firms’ analyses and presents ZimCal’s case for board change at Medallion Financial. Accompanying the letter as supporting material are aggregated MFIN earnings call transcripts from 1Q22 through 4Q23, with references to “normalized” results and charge-offs highlighted to assist the reader in evaluating Medallion’s public statements about its financial performance.