Medallion Financial Corp. (NASDAQ: MFIN)

This investigation is for anyone who acquired securities in Medallion Financial Corp. (NASDAQ: MFIN) prior to December 29, 2021.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by engaging in an illegal scheme to boost the price of the Company’s stock by paying advertisers to place false positive stories about the Company in various publications.

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.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Medallion Financial Corp. (NASDAQ: MFIN) prior to December 29, 2021 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.