NASDAQ GM
MHGC

Morgans Hotel Group Co.

Shareholder Corporation Litigation

Rigrodsky & Long, P.A. Announces Investigation Of Morgans Hotel Group Co. (NASDAQ GM: MHGC) Buyout

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 entry into an agreement to be acquired by SBE, in a transaction valued at approximately $794 million.

Under the terms of the agreement, shareholders of Morgans will receive $2.25 in cash for each share of Morgans common stock.

The investigation concerns whether Morgans’ board of directors failed to adequately shop the Company and obtain the best possible value for Morgans shareholders before entering into an agreement with SBE.

If you own the common stock of Morgans and purchased your shares before May 9, 2016, 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 D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com.

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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