Medallion Financial Corp. MFIN

MILWAUKEE, Dec. 29, 2021 /PRNewswire/ -- Ademi LLP is investigating possible securities fraud claims against Medallion (NASDAQ: MFIN). The investigation results from inaccurate statements Medallion may have made regarding its business operations and prospects.

Click here to learn more about the investigation: https://www.ademilaw.com/case/medallion-financial-corp or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.

According to the SEC, Medallion's president, Andrew Murstein, and Medallion paid a media strategy firm to illegally tout Medallion's prospects and business operations in various websites, including Huffington Post, Seeking Alpha, and TheStreet.com. The media strategy firm directed fake identities for their opinion pieces in order to appear credible to potential investors. The SEC also alleges that Medallion and Murstein fraudulently increased the carrying value of Medallion Bank (the Bank), a wholly owned subsidiary of Medallion, to offset losses relating to the taxicab medallion loans. When a valuation firm refused to cave to Murstein's pressure to increase the Bank's valuation, Murstein fired the firm and hired a new firm to provide an inflated valuation of the Bank.

If you wish to obtain additional information or have information about this investigation, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, https://www.ademilaw.com/case/medallion-financial-corp.                    

We specialize in securities fraud and shareholder litigation.  For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Ademi LLP
Guri Ademi
3620 East Layton Ave.
Cudahy, WI 53110
Toll Free: (866) 264-3995
Fax: (414) 482-8001
www.ademilaw.com

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SOURCE Ademi LLP