Oportun Financial (OPRT) stakeholder Findell Capital Management said in a letter to shareholders on Thursday that it has nominated Sandra Bell and Warren Wilcox to the company's board.
The statement followed Oportun's March 20 response to Findell's earlier letter, in which the lender defended its board and management, saying it took steps that have potentially reduced costs, supported profitability, and its capital structure.
Findell said the same day that it would nominate two director candidates to succeed chief executive officer Raul Vasquez and lead director Neil Williams.
"While we are happy to give some credit to the Board for at least partially enacting obvious and necessary changes, the reality is that had Oportun reacted fully and promptly, we believe expensive dilution would not have been necessary," Findell said Thursday.
Oportun did not immediately respond to MT Newswires' request for comment.
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