-
Posted by
Two Blokes Jun 16 -
Filed in
Stock
-
8 views
Visit www.OpportunityAtOportun.com to Download the Presentation NEW YORK , June 16, 2025 /PRNewswire/ -- Findell Capital Partners, LP, (together with its affiliates, "Findell," "we" or "us") one of the largest stockholders of Oportun Financial Corporation (NASDAQ: OPRT) ("Oportun" or the "Company"), today released an investor presentation highlighting the urgent need for additional independence and consumer finance industry expertise in the Company's boardroom. In the presentation, Findell outlines what it sees as the legacy Board of Directors' (the "Board") failure to effectively oversee management and instill accountability: CEO Raul Vazquez turned Oportun's simple lending business into a money-losing fintech platform – destroying nearly $1.5 billion of stockholder capital in the process – by exploding its cost per loan, massively increasing its net charge-offs and pursuing disastrous acquisitions, including the approximately $211 mm purchase of Hello Digit, Inc. As a result of these strategic missteps, the Company's revenue and earnings deteriorated, leading to a roughly 76% collapse in the stock price from September 2019 through March 2023.
