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NYSE Begins Delisting Procedures for Patriot National Stock

Monday, October 2, 2017 | 523 | 0 | 0 min read

Patriot National announced Friday that it has received a delisting notice from the New York Stock Exchange because it has failed to meet capitalization rules.  Patriot said Rule 802.01B of the NYSE manual requires the average global capitalization of a listed company’s common stock to be more than $50 million over a consecutive 30-day trading period.  Patriot National’s stock price has dropped more than 90% since it went public in 2015. The company's former CEO Steven Mariano has also been the target of numerous shareholder lawsuits.  Patriot Nationa...

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