We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Deja Vu At Morgans Hotel As New Activist Launches Fight

Law360, New York (September 6, 2013, 1:30 PM EDT) -- 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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.