Burkle Loses Bid For New Morgans Hotel Board Election

Law360, New York (November 14, 2013, 2:07 PM EST) -- A New York federal judge on Wednesday denied billionaire investor Ron Burkle’s request for a new election of Morgans Hotel Group Co.’s board of directors, which Burkle claims OTK Associates LLC tainted by issuing misleading proxy statements, saying Burkle waited far too long to file the lawsuit.

Burkle alleges OTK and its seven nominees for the board "tainted" this summer's shareholder election by distributing a press release containing false and misleading proxy statements in violation of the Securities and Exchange Act, and asked the court for a preliminary injunction...
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