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

MEDALLION ALERT: Bragar Eagel & Squire, P.C. is Investigating Medallion Financial Corp. on Behalf of Medallion Stockholders and Encourages Investors to Contact the Firm

December 30, 2021 GMT

NEW YORK, Dec. 29, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Medallion Financial Corp. (“Medallion” or the “Company”) (NASDAQ: MFIN) on behalf of Medallion stockholders. Our investigation concerns whether Medallion has violated the federal securities laws and/or engaged in other unlawful business practices.

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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 or otherwise acquired Medallion shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com