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Patriot National, Inc. (PN)

NYSE:PN

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Patriot National, Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Patriot National, Inc. (“Patriot National” or the “Company”) (NYSE:PN) of the May 15, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Patriot National securities between August 15, 2016, and March 3, 2017 (the “Class Period”).  The case, Gingello v. Patriot National, Inc. et al, No. 1:17-cv-01866 was filed on March 14, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements, as well as failed to disclose material adverse facts about the alleged breaches of fiduciary duty by Patriot National CEO, Steve Mariano (“Mariano”), and alleged related party transactions that served to benefit Mariano to the detriment of the Company shareholders.

Specifically, the lawsuit alleges that the Company failed to disclose that: (1) the Patriot National special committee was beholden to Mariano; (2) the special committee was operating for the benefit of Mariano, and not the Company or its shareholders; (3) the special committee did not independently assess the merits of the Ebix transaction; (4) the special committee was not exploring strategic alternatives in order to maximize shareholder value; and (5) as a result, the Company’s statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis. Investors began to learn the truth regarding Patriot National through a series of disclosures, which negatively impacted the price of the Company’s stock.

Take Action

If you invested in Patriot National securities between August 15, 2016, and March 3, 2017and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Patriot National’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Patriot National, Inc. (PN)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 03/15/2017

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.