Hedge Fund Pitches 4 New Directors For Luxury Hotel REIT

Law360, New York (November 20, 2013, 11:59 AM EST) -- Activist hedge fund Orange Capital LLC said Wednesday that it plans to nominate four directors to the board of Strategic Hotels & Resorts Inc., renewing calls for change at the real estate investment trust in which it is a substantial minority shareholder.

Over the summer, New York-based Orange first tore into Strategic Hotels, blasting the company for failing clue in shareholders about potential sale plans. With no apparent sale plans drawn up since then, the hedge fund — which holds a 4 percent stake — is...
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