On January 12, 2024, HG Vora Capital Management, LLC sent a letter to PENN Entertainment, Inc. to bring to the Company?s attention the fact that the unequal allocation of members across each class of the Company?s Board of Directors is in violation of the Pennsylvania Business Corporation Law of 1988 and the Company?s Second Amended and Restated Articles of Incorporation and disenfranchises shareholders by artificially constricting the number of directors who may stand for re-election at the Company?s 2024 annual meeting.
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