Medallion Financial agreed to name two new independent directors after striking a peace treaty with the dissident shareholder who raised a ruckus when federal regulators charged the taxi lender and its president with fraud, alleging they secretly paid touts to say nice things.
Activist investment firm Korr Value had called for Medallion Chief Executive Alvin Murstein and his son, President Andrew Murstein, to step off the board and be suspended from their positions shortly after the Securities and Exchange Commission sued the firm in December. The SEC says that Andrew Murstein secretly paid for and approved more than 1,000 articles and comments about Medallion in several media outlets
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