LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Patriot National, Inc. (“Patriot” or the “Company”) (NYSE: PN). Investors who purchased or otherwise acquired Patriot shares between August 15, 2016, and March 3, 2017, inclusive (the “Class Period”), are encouraged to contact the firm in advance of the May 15, 2017 lead plaintiff deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, during the Class Period, Patriot made false and misleading statements and/or failed to disclose that: its special committee was beholden to CEO Steve Mariano; as such, the special committee was working for the benefit of the CEO and not Patriot National or its investors; the special committee did not independently assess the merits of the Ebix transaction; the special committee did not consider good alternatives to maximize shareholder value; and as a result, Patriot’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
When this news was released to the public, the value of Patriot stock dropped, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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