San Diego, CA -- (SBWIRE) -- 03/15/2022 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Medallion Financial Corp.

Investors who purchased shares of Medallion Financial Corp. (NASDAQ: MFIN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Medallion Financial Corp. (NASDAQ: MFIN officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Medallion Financial Corp. (NASDAQ: MFIN) concerning whether a series of statements by Medallion Financial Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. Medallion Financial Corp. reported that its annual Total Revenue rose from $106.24 million in 2019 to $117.20 million in 2020, and that its Net Loss increased from $1.762 million in 2019 to $34.78 million in 2020.

On December 29, 2021, it was reported that, the U.S. Securities and Exchange Commission charged Medallion Financial Corp President and Chief Operating Officer Andrew Murstein with allegedly engaging in fraudulent schemes to boost the Company's stock price.

Shares of Medallion Financial Corp (NASDAQ: MFIN) declined from $8.79 per share in early December 2021, to as low as $3.50 per share on December 29, 2021.

Those who purchased shares of Medallion Financial Corp. (NASDAQ: MFIN) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.