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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Medallion Financial Corp. (MFIN) on Behalf of Investors

December 29, 2021 GMT

BENSALEM, Pa.--(BUSINESS WIRE)--Dec 29, 2021--

Law Offices of Howard G. Smith announces an investigation on behalf of Medallion Financial Corp. (“Medallion” or the “Company”) (NASDAQ: MFIN ) investors concerning the Company’s possible violations of federal securities laws.

On December 29, 2021, the SEC charged Medallion and its President and Chief Operating Officer, Andrew Murstein, “with illegally engaging in two schemes in an effort to reverse the company’s plummeting stock price.” Specifically, the two had “engaged in illegal touting by paying Ichabod’s Cranium and others to place positive stories about the company on various websites, including Huffington Post, Seeking Alpha, and TheStreet.com.”

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On this news, Medallion’s stock fell up to 27% during intraday trading on December 29, 2021, thereby injuring investors.

If you purchased Medallion securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211229005370/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2021.

PUB: 12/29/2021 01:25 PM/DISC: 12/29/2021 01:25 PM

http://www.businesswire.com/news/home/20211229005370/en