LOS ANGELES–(COMMERCIAL THREAD) –Glancy Prongay & Murray LLP (“GPM”), a leading national law firm specializing in shareholder rights, today announced that it has opened an investigation on behalf of Medallion Financial Corp. (“Medallion” or the “Company”) (NASDAQ: MFIN) investors regarding the Company’s possible violations of federal securities laws.
If you have suffered a loss on your Medallion investments or would like to inquire about the possibility of pursuing claims to recover your loss under federal securities laws, you can submit your details to www.glancylaw.com/cases/medallion-financial-corp/. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll-free at 888-773-9224, or by email at [email protected] to learn more about your rights.
On December 29, 2021, the SEC accused Medallion and its president and chief operating officer, Andrew Murstein, “of illegally engaging in two schemes to reverse the fall in the company’s stock price.” Specifically, the two men had “engaged in an illegal sale by paying Ichabod’s Cranium and others to post positive articles about the company on various websites, including Huffington Post, Seeking Alpha and TheStreet.com”.
At this news, Medallion’s stock fell as much as 27% during intraday trading on December 29, 2021, hurting investors.
Notice of denunciation: Those with non-public information regarding Medallion should consider their options to facilitate the investigation or take advantage of the SEC’s whistleblower program. Under the program, whistleblowers who provide original information can receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected]
Glancy Prongay & Murray LLP is a leading law firm representing investors and consumers in securities litigation and other complex class actions. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked among the top five law firms for the number of securities class action settlements and among the top six law firms. ‘lawyers for the total size of settlements in dollars. With four offices across the country, nearly 40 GPM attorneys have won groundbreaking decisions and recouped billions of dollars for investors and consumers in securities, antitrust, consumer and employment class actions. GPM lawyers have dealt with cases covering a wide range of professional misconduct, including cases involving financial restatements, internal control weaknesses, profit management, fraudulent profit claims and forward-looking statements, auditor misconduct , insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM attorneys have worked on securities cases involving nearly all industries and sectors of the financial markets, including energy, consumer discretionary, consumer staples, real estate and REITs, finance, insurance, information technology, healthcare, biotechnology, cryptocurrency, medical devices, and many more. GPM’s past successes have been covered extensively by major news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Business Week, Reuters, the Associated press, Barron, Daily Investor Business, Forbes, and Money.
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