BALA CYNWYD, Pa., May 19, 2016 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Morgans Hotel
Group Co., Inc. ("Morgans Hotel" or "the Company") (Nasdaq-
MHGC-News) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to SBE.
Click here to learn more about the investigation
http://brodsky-smith.com/1074-mhgc-morgans-hotel-group.html, or
call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Morgans Hotel shareholders
will receive only $2.25 in cash for
each share of Morgans Hotel stock they own. The investigation
concerns whether the Board of Morgans Hotel breached their
fiduciary duties to shareholders and whether SBE is underpaying for
the Company. The transaction may undervalue the Company and would
result in a substantial loss for many Morgans Hotel shareholders.
For example, Morgans Hotel stock traded at $7.96 per share on February 18, 2015 and $3.90 on November 6,
2015.
If you own shares of Morgan Hotel stock and wish to discuss the
legal ramifications of the investigation, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 510, Bala
Cynwyd, PA 19004, by visiting
http://brodsky-smith.com/1074-mhgc-morgans-hotel-group.html, or
calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class action lawsuits. The attorneys at Brodsky
& Smith have been appointed by numerous courts throughout the
country to serve as lead counsel in class actions and have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholder-alert-brodsky---smith-llc-announces-investigation-of-the-board-of-directors-of-morgans-hotel-group-co-inc---mhgc-300272011.html
SOURCE Brodsky & Smith, LLC
