Penn Entertainment Faces Proxy Fight From Investor Citing 'Persistent Bad Judgment'
The investor, New York-based HG Vora, has never before launched a proxy battle. It cited “Years of Poor Judgment, Failed Transactions, and Value Destructive Actions” as the rationale behind its move to do so now in a statement released Wednesday.
HG Vora made the move it has been working toward, nominating three directors to take seats on the board of ESPN Bet parent company.
HG Vora has criticized the casino operator’s M&A history and share performance.
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