Penn National Gaming Inc.  (PENN)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Penn National Gaming Inc. (“Penn National” or the “Company”) (NASDAQ: PENN). The investigation concerns whether Penn National and certain of its officers and/or directors have violated federal securities laws.

 

On November 4, 2021, Penn National disclosed its financial results for the third quarter of 2021.  Among other items, Penn National reported net income of $86.1 million, or $0.52 per share, down significantly from $141.9 million, or $0.93 per share, for the same period in the prior year.  Separately, on November 4, 2021, Business Insider published an article reporting several allegations of sexual misconduct against David Portnoy, founder of Penn National’s partially owned affiliate Barstool Sports.  Following these disclosures, Penn National’s stock price fell $15.33 per share, or 21.08%, to close at $57.40 per share on November 4, 2021.

 

If you are aware of any facts relating to this investigation, or purchased Penn National shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.