Deja Vu At Morgans Hotel As New Activist Launches Fight

Law360, New York (September 06, 2013, 1:30 PM ET) -- Just three months after taking control of Morgans Hotel Group Inc., a new shareholder-appointed board is facing its own activist challenge from a hedge fund that said Thursday it would try to force a sale of the company.

Kerrisdale Capital Management LLC, which owns about 4 percent of Morgans, said OTK Associates LLC, which owns 15 percent and seized control in a June proxy battle, is overrepresented and ignoring the desire of other shareholders to cash out of a what's been a rocky investment in recent...
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