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OTK Associates to Nominate Directors to Morgans Hotel Board

NEW YORK--(BUSINESS WIRE)--OTK Associates LLC, the largest shareholder of Morgans Hotel Group Co. (Nasdaq: MHGC) with 13.9% of the outstanding common stock of the company, today disclosed that it intends to nominate a slate of seven candidates to the company’s board of directors and notified the company of its intent in a letter on March 15, 2013. Morgans' 2013 Annual Meeting of Shareholders is scheduled to be held on May 15, 2013.