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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Penn National Gaming Inc. - PENN

November 9, 2021 GMT

NEW YORK, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Penn National Gaming Inc. (“Penn National” or the “Company”) (NASDAQ: PENN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Penn National and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

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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.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:

Robert S. Willoughby

Pomerantz LLP

rswilloughby@pomlaw.com

888-476-6529 ext. 7980