WILMINGTON, Del.--(EON: Enhanced Online News)--Rigrodsky & Long, P.A.:
- Do you own shares of Morgans Hotel Group Co. (NASDAQ GM: MHGC)?
- Did you purchase any of your shares prior to November 1, 2013?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Morgans Hotel Group Co. (“Morgans” or the “Company”) (NASDAQ GM: MHGC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s receipt of a proposal to be acquired by The Yucaipa Companies, LLC (“Yucaipa”), in a transaction valued at approximately $261 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/morgans-hotel-group-co-mhgc-proposal.
Under the terms of the proposal, public shareholders of Morgans will receive consideration valued at $8.00 per share for each share of Morgans they own.
The investigation concerns the Morgans’ board of directors’ process for consideration of the proposed transaction, whether Morgans is acting in its shareholders’ best interests and whether the proposed consideration to be paid to Morgans’ shareholders would be fair and adequate. According to Yahoo! Finance, at least one analyst has issued a price target for Morgans stock at $10.00 per share.
If you own the common stock of Morgans and purchased your shares before November 1, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Gina Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/morgans-hotel-group-co-mhgc-proposal.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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