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Can PENN be sued? Clearly they could have sold this for more than $1. Did they fumble their fiduciary duty to shareholders?
by muttantt 3y ago
Can PENN be sued? Clearly they could have sold this for more than $1. Did they fumble their fiduciary duty to shareholders?
- five82 3y agoI would have given them a 10x return.
- sokoloff 3y agoIt sounds like they got $1 plus a perpetual right to 50% of the value if the name is ever sold onward. That right is worth far more than $1.
- AuthError 3y agono, with non-compete barstool is worth half their value anyway (they still get half of the proceed from selling profit so its not really $1)
- singleshot_ 3y agoI believe if you read around you will find that apart from the duty of care and the duty of loyalty, there are no duties to the shareholder to maximize value.