ZimCal issues cease and desist letter to Medallion Financial Corp. and demands correction of recent false and misleading statements.

On May 15, 2024, counsel to ZimCal sent a cease and desist letter to counsel for Medallion Financial Corp. concerning statements in Medallion’s May 13, 2024 solicitation material about discussions between the parties. The letter asserts that the statements were false and misleading in violation of Section 14(a) of the Securities Exchange Act and were defamatory under applicable state law, and demands corrective disclosure. The letter is reproduced in full below.