NEW YORK--(BUSINESS WIRE)--

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Patriot National, Inc. securities (NYSE: PN) from August 15, 2016 through March 3, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Patriot National investors under the federal securities laws.

To join the Patriot National class action, go to http://rosenlegal.com/cases-1085.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that: (1) Patriot National special committee was beholden to CEO Steve Mariano; (2) as such, the special committee was operating for the benefit of Mariano and not Patriot National 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, defendants’ statements about Patriot National’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1085.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

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