OTK Suit Against Ex-Morgans Directors Heads To Trial

Law360, New York (February 6, 2014, 6:42 PM EST) -- OTK Associates LLC’s suit accusing former Morgans Hotel Group Co. board members of breaching fiduciary duty by approving a shady plan to increase private equity firm Yucaipa Cos. LLC's stake in the hotel operator will head to trial in June, a Delaware state judge said Wednesday.

Vice Chancellor Travis Laster found that OTK had provided enough evidence to make its claim that the board members — including Yucaipa founder and managing director Ronald W. Burkle — improperly revived a stalled deal with the private equity firm...
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