Medallion Financial’s Board Must Protect Stakeholders in the SEC Lawsuit, Not Management

ZimCal demanded that the board of Medallion Financial Corp. protect stakeholders in the Company’s SEC lawsuit. The release, published via GlobeNewswire on January 6, 2025, urges the board of Medallion Financial to start looking out for stakeholders and to take steps to improve governance, arguing that improved governance would increase investor interest and the Company’s valuation. ZimCal contends the board must prioritize the interests of stockholders over those of management in its handling of the SEC matter and its broader stewardship of the Company.