NEW YORK, Sept. 27, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at Patriot National, Inc. ("Patriot" or the "Company") (NYSE: PN).
The investigation focuses on whether the Company's Board of Directors and/or its officers committed mismanagement and breached their fiduciary duties by falsely representing the purpose and need for the Stock Repurchase Program (the "Program"), as well as the Program's purpose to increase the Company's stock price to accurately reflect its value. It is alleged that the true motive for the Program was to artificially inflate the price of the Company's stock to enable Steven M. Mariano, Patriot's controlling shareholder and former Chief Executive Officer, to provide fewer shares to private equity investors and to maintain his control position in the Company. As a result of the foregoing, Patriot is currently facing a securities class action lawsuit.
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If you currently own Patriot stock and have continuously owned Patriot stock and would like to discuss your legal rights, please visit www.faruqilaw.com/PN. You can also contact us by calling Nina Varindani toll free at (212) 983-9330 or Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Patriot's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Attn: Nina Varindani
Telephone: (212) 983-9330
Attn: Stuart Guber
Telephone: (215) 277-5770
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