A report from a legal committee created by Penn Entertainment’s board has found that the operator of theScore Bet “acted in good faith” when it cut the number of directors on its board amid a proxy fight with an activist investor.
The committee report added that former Penn Chairman Peter Carlino claimed Parag Vora, the founder of activist investment fund HG Vora, told Carlino that he planned to sell Penn for parts.
The report, published last week, comes in a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania about Penn’s actions in a dispute with shareholder HG Vora over the future of the company.
