litigation
confidence high
sentiment negative
materiality 0.70
VICI Properties faces nine disclosure lawsuits over MGP merger; issues supplemental proxy
VICI PROPERTIES INC.
- Nine lawsuits filed in SDNY, DNJ, EDNY, and EDPa alleging inadequate merger disclosures in joint proxy statement.
- VICI denies allegations but voluntarily supplements proxy with additional financial advisor valuation tables and metrics.
- Supplemental disclosures include comparable company P/AFFO multiples, DCF discount rates, and premium paid transactions data.
- Lawsuits seek to enjoin the merger and award costs; VICI believes claims are without merit.
- Merger involves VICI contributing to New VICI Operating Company and MGP merging with VICI subsidiary.