SEC can pursue lawsuit against Medallion Financial, US judge rules

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