BIMIZCI Fund Urges Shareholders to Support Board Nominees
BIMIZCI Fund LLC, Warnke Investments LLC, ZimCal Asset Management, LLC and Stephen Hodges, long-standing holders of Medallion Financial trust preferred securities and currently the 4th largest institutional stockholder with 500,250 shares, announced that both leading independent proxy advisory firms, Institutional Shareholder Services and Glass, Lewis & Co., have recommended that Medallion stockholders vote on the BLUE proxy card FOR the election of BIMIZCI nominees Eric Kelly and John Kiernan to the company's Board of Directors at the upcoming 2026 Annual Meeting of Stockholders to be held on June 9, 2026. Both ISS and Glass Lewis further recommended that stockholders WITHHOLD support from incumbent Executive Chair Alvin Murstein and Nominating & Governance Committee Chair Cynthia Hallenbeck. "The recommendations from ISS and Glass Lewis validate the core themes of BIMIZCI's campaign and the concerns we have raised directly with stockholders, including the entrenchment of the Murstein family, the Board's failure to hold management accountable in the wake of the Federal Judgment and the SEC's permanent injunctions against Andrew Murstein and Medallion Financial, deteriorating credit metrics across the Company's core lending segments, and a pattern of governance practices designed to insulate incumbents from accountability. BIMIZCI believes that in addition to these concerns, there is the looming threat of frontier technology, such as AI, that will threaten and upend existing consumer finance companies in ways we cannot even fully envision yet."
