[muttantt]

Can PENN be sued? Clearly they could have sold this for more than $1. Did they fumble their fiduciary duty to shareholders?

[singleshot_]

I 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.

[sokoloff]

It 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]

no, 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)

[five82]

I would have given them a 10x return.