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BRIEF-SEC can pursue lawsuit against Medallion Financial, US judge rules
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BRIEF-SEC can pursue lawsuit against Medallion Financial, US judge rules
Sep 19, 2024 9:21 AM

Sept 18 (Reuters) - Sec alleged a scheme to inflate

medallion's stock price by posting positive stories about the

company online, even as medallion's loan portfolio weakened amid

pressure from uber and lyft

u.s. Judge refuses to dismiss sec lawsuit against medallion

financial, which makes loans backed by taxicab medallions, court

papers show

u.s. District judge lewis kaplan in manhattan says sec can

pursue fraud-based case against medallion, dismisses one claim

Judge says sec can also pursue claims against medallion's

president and against a public relations firm that worked with

medallion

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