LOS ANGELES, April 25, 2017 /PRNewswire/ -- Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Patriot National, Inc. ("Patriot National" or the "Company") (NYSE: PN) concerning possible violations of federal securities laws between August 15, 2016 and March 3, 2017 inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the May 15, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit,
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at email@example.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Patriot National made materially false and misleading statements and/or failed to disclose that: the Company's special committee was beholden to CEO Steve Mariano, therefore the special committee was operating for the benefit of Mariano and not Patriot National or its shareholders; that the special committee did not independently assess the merits of the Ebix transaction; that the special committee was not exploring strategic alternatives in order to maximize shareholder value; and that as a result of the above, Patriot's statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When this information was released to the investing public, shares of Patriot National dropped in value materially, which harmed investors according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE Lundin Law PC