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OTK Associates Mails Definitive Proxy Statement and Sends Letter to Morgans Hotel Group Stockholders

NEW YORK--(BUSINESS WIRE)--OTK Associates, LLC (“OTK”), the largest shareholder of Morgans Hotel Group Co. (“Morgans”) (Nasdaq: MHGC) with 13.9% of the outstanding common stock of the company, today announced that it filed definitive proxy materials with the Securities and Exchange Commission in connection with OTK’s seven nominees for election to the board of directors of Morgans at its upcoming annual meeting of stockholders on June 14, 2013.