Berks County based Penn Entertainment is responding to blistering criticisms laid out by a hedge fund amid a proxy battle.
Last week, HG Vora Capital Management, one of Penn’s largest shareholders, issued a 116-slide presentation, making its latest case for why change is needed, in a boardroom tussle that goes back to at least 2023. On Tuesday, Penn said that presentation is “full of false claims and mischaracterizations” about the company.
The New York City-based HG Vora, which also has holdings in MGM Resorts International and Caesars Entertainment, is lobbying to get two of its nominees on Penn’s eight-member board of directors during the company’s annual meeting of shareholders next month.
