Patriot National, Inc. (NYSE:PN) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01.
On November 14, 2016, Patriot National, Inc. (the “Company”) notified the New York Stock Exchange (the “NYSE”) that it was not in compliance with Section 303A.01 (the requirement to have a majority of independent directors on the board) and Section 303A.07(a) (the requirement to have a minimum of three audit committee members) of the NYSE Listed Company Manual as a result of the previously reported resignation of Michael Corey from the Company’s Board of Directors. On November 15, 2016, the Company received official notice from the NYSE that it was deficient in meeting these requirements. The Company is currently searching for an additional independent director to fill the vacancy on the Board of Directors and to serve on the audit committee as soon as practicable.
About Patriot National, Inc. (NYSE:PN)
Patriot National, Inc. is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with complex regulations. It offers a range of end-to-end insurance related and specialty services. The Company principally offers approximately two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration. It also offers specialty services, including technology outsourcing and other information technology (IT) services, as well as employment pre-screening and background checks. The Company’s brokerage and policyholder services include general agency services and specialty underwriting and policyholder services provided to its insurance carrier clients. The Company’s claims administration services relate to the administration and resolution of workers’ compensation claims. Patriot National, Inc. (NYSE:PN) Recent Trading Information
Patriot National, Inc. (NYSE:PN) closed its last trading session down -0.30 at 5.99 with 790,080 shares trading hands.
