04/26/24 - ZimCal sends shareholder letter highlighting its concerns with MFIN’s stock price decline, management compensation, core business performance and other material risks.
ZimCal Asset Management LLC and its affiliates (“ZimCal”) sent a letter to MFIN shareholders highlighting its concerns, and showing that change must happen immediately to proactively address material risks. ZimCal seeks shareholder support to strengthen MFIN by voting for its two highly qualified, independent candidates for election to the board of Medallion Financial Corp. at the June 11th, 2024 Annual Meeting of Stockholders. ZimCal filed a definitive proxy statement on April 26, 2024 with the Securities and Exchange Commission in connection with its nomination.