LOS ANGELES, CA / ACCESSWIRE / April 7, 2017 / Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Patriot National, Inc. ("Patriot National" or the "Company") (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.
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 choose to 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.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
This press release may be considered Attorney Advertising in certain jurisdictions under the applicable law and ethical rules.
SOURCE: Lundin Law PC