Oportun Financial stockholder Findell Capital issues statement

Oportun Financial (OPRT) stockholder Findell Capital issued the following statement: “While we have gone to great lengths to engage privately with the Board on ideas for creating value and a settlement, we have been met with sustained resistance. Oportun is wasting millions of stockholder dollars to fight one of its largest owners and prevent anyone with lending experience from serving in a Board leadership position – which is ironic and confusing because Oportun is a lending company. As recently as this past week, CEO Raul Vazquez cited OneMain Financial as an example of a best-in-class operator – yet Oportun’s legacy directors chose to disgracefully remove former OneMain CFO Scott Parker from the Board in what we view as a desperate attempt to retain control of the company. We believe the Board’s recent actions are indicative of its own entrenchment and put stockholders at long-term risk. Findell continues to seek a compromise to resolve this situation in a manner that can benefit all the company’s stockholders. To that end, we would agree to a framework that would facilitate improved corporate governance and enhanced value creation under the leadership of directors who possess lending expertise.”