PENN committee backs board-size decision in HG Vora dispute
A PENN Entertainment special litigation committee concluded that the company acted in good faith when it reduced its board from nine seats to eight before its annual meeting. The committee said pursuing activist investor HG Vora’s claims would not serve PENN’s interests; the court had paused the case while the committee conducted its review.
The committee’s conclusion informs the continuing dispute over PENN’s board composition and HG Vora’s claims.