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NEW YORK - Findell Capital Partners, LP, a major shareholder of Oportun Financial Corporation (NASDAQ:OPRT), released a rebuttal presentation today addressing what it describes as "false and misleading statements" in Oportun’s June 18 presentation. The dispute comes as Oportun’s stock has shown remarkable strength, delivering a 140% return over the past year, according to InvestingPro data.
The investment firm highlighted support from Oportun’s founder and former CEO James Gutierrez, who reportedly wrote that "Findell Capital has accurately diagnosed the root causes of this [valuation] gap and offered a smart, focused plan to restore value." According to Findell, Gutierrez also endorsed the election of Warren Wilcox to the company’s Board of Directors in place of current CEO Raul Vazquez. InvestingPro analysis shows the company maintains strong financial health with a current ratio of 10.9, indicating robust liquidity.
Findell claims Oportun forced a proxy contest by refusing to appoint independent directors with lending industry experience to board leadership positions and by removing former OneMain Financial CFO Scott Parker from the board.
The investment firm is seeking to elect Wilcox, described as an "independent lending industry veteran," at Oportun’s upcoming 2025 Annual Meeting of Stockholders. Findell argues that removing Vazquez from the board would improve oversight of management and that additional board changes are needed to address what it characterizes as underperformance compared to industry peers.
The information is based on a press release statement issued by Findell Capital. While analysts maintain a consensus hold rating on the stock, InvestingPro subscribers can access 8 additional key insights and a comprehensive analysis of Oportun’s financial health and growth prospects through the Pro Research Report.
In other recent news, Oportun Financial Corporation is preparing for its Annual Meeting of Stockholders on July 18, 2025, amid a contested board election. The company has urged shareholders to support its board nominees, CEO Raul Vazquez and Carlos Minetti, via a green proxy card. Meanwhile, major stockholder Findell Capital Partners has criticized Oportun’s governance, accusing the CEO of transforming the company into a money-losing fintech platform. Findell is advocating for the election of its candidate, Warren Wilcox, to bring new perspectives to the board. The investment firm has also challenged Oportun’s claims of cost-cutting and operational improvements, attributing recent progress to its own influence. Oportun counters that it implemented a cost-reduction plan independently, resulting in $240 million in savings and a return to GAAP profitability. The company has reduced its board size and is seeking shareholder support for its nominees. Findell, however, continues to push for significant board changes, emphasizing the need for new oversight.
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