ZimCal and Stephen Hodges issue cease and desist letter to Medallion Financial Corp. and demand correction of recent false and misleading statements.

ZimCal’s counsel 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 was sent to directly rebut inaccurate statements made by Medallion during ZimCal’s 2024 proxy campaign to elect two directors it had nominated to Medallion’s board. 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 full letter is available below.