LM Funding America Inc
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Financials : Diversified Financial Services | Small Cap Blend
Company profile

LM Funding America, Inc. is a specialty finance company. The Company provides funding to nonprofit community associations primarily located in the state of Florida and to nonprofit community associations in the states of Washington and Colorado. It offers incorporated nonprofit community associations (Associations), a range of financial products customized to each Association's financial needs. Its products include Original Product and New Neighbor Guaranty. Its Original Product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. The Company offers the New Neighbor Guaranty, wherein an Association assigns its indebtedness and accruals on its delinquent units to it in exchange for payments in an amount equal to the regular ongoing monthly or quarterly assessments for delinquent units when those amounts would be due to the Association.


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Nikola stock drops further after report that DOJ started its probe

4:04 pm ET September 15, 2020 (MarketWatch)

Shares of Nikola Corp. (NKLA) dropped further Tuesday after a report by The Wall Street Journal said the Justice Department has joined the Securities and Exchange Commission in looking into allegations that the electric-truck maker has misled investors. The report, which cited people familiar with the matter, said the probe is being handled by the Manhattan U.S. attorney's office, working in conjunction with the securities regulators, which has reportedly initiated its own probe. Spokespersons for the SEC and Manhattan U.S. attorney's office declined to comment, as did Nikola representatives, the newspaper said. Nikola said Monday it had contacted the SEC itself last week on the wake of a report by short seller Hindenburg Research, saying it was welcoming the SEC's involvement. Hindenburg last week said Nikola was an "intricate fraud," to which the company responded that the note had been a "hit job" designed by greed. Hindenburg, in a note Tuesday, reiterated some of its criticism and said that the company had not fully answered or sidestepped the questions it had posed. Shares of Nikola have gained 218% so far this year, compared with gains around 5% for the S&P 500 index.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 15, 2020 16:04 ET (20:04 GMT)

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