Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Dec. 30, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Medallion Financial Corp. (“Medallion” or the “Company”) (NASDAQ: MFIN) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On December 29, 2021, the U.S. Securities and Exchange Commission ("SEC") filed a complaint alleging that Medallion and certain of its corporate officers had engaged in an unlawful scheme in an effort to reverse the Company's declining stock price. In a complaint filed on Wednesday in Manhattan federal court, the SEC said Medallion and President Andrew Murstein paid a California media strategist to anonymously promote Medallion on websites including Huffington Post, Seeking Alpha, TheStreet.com and Crain's New York Business.
On this news, Medallion's stock price fell $1.78 per share, or 21.07%, to close at $6.67 per share on December 29, 2021.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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