SAN DIEGO, June 23, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Morgans Hotel Group Co. (NASDAQ:
MHGC) breached their fiduciary duties in connection with the
proposed sale of the Company to SBE.
Additional Information:
Morgans Hotel owns, develops, operates and licenses boutique
hotels.
On May 9, 2016, Morgans Hotel
announced it had signed a definitive merger agreement with SBE.
Under the terms of the agreement, Morgans Hotel stockholders will
receive $2.25 per share in cash.
The investigation concerns whether the Morgans Hotel board
failed to satisfy their duties to the Company shareholders,
including whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Morgans Hotel shares of common stock. Nationally recognized
Johnson & Weaver is investigating whether the proposed deal
price represents adequate consideration. The 52-week high
for Morgans Hotel stock is $7.00.
If you are a shareholder of Morgans Hotel and believe
the proposed buyout price is too low or you're interested in
learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson &
Weaver, LLP is a nationally recognized shareholder rights law firm
with offices in California,
New York and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonandweaver.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
Logo - http://photos.prnewswire.com/prnh/20160211/332409LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/morgans-hotel-mhgc-alert-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-morgans-hotel-group-co-are-shareholders-getting-a-fair-price-300289270.html
SOURCE Johnson & Weaver, LLP