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BIMIZCI urges Medallion Financial holders vote blue card to replace three directors

PUBT·05/19/2026 19:25:23
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BIMIZCI urges Medallion Financial holders vote blue card to replace three directors
  • BIMIZCI Fund launched a proxy fight at Medallion Financial ahead of the June 9 annual meeting, urging holders of record as of April 13 to vote its BLUE card to elect Eric Kelly, John Kiernan, Tim Shanahan.
  • The investor group said it owns 500,205 shares, holds USD 15 million par value of trust preferred securities, has a total cash investment of USD 11.4 million.
  • BIMIZCI blamed weak operating results, citing 1Q26 earnings as the lowest since 3Q20, with analyst consensus projecting a 36% drop in 2026 earnings versus 2025.
  • It criticized governance and oversight, pointing to an aging board, executive pay of USD 13 million in 2025, and a securities-fraud-related SEC civil action settlement involving the CEO.
  • BIMIZCI said it plans to push for more stockholder-friendly governance changes, including annual elections for all directors.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Medallion Financial Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 202605191525BIZWIRE_USPR_____20260519_BW045898) on May 19, 2026, and is solely responsible for the information contained therein.