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Scheetz sells shares of Morgans Hotel Group
By Lisa Kerner
Charlotte, N.C., Dec. 14 - Investors led by NorthStar Capital Investment Corp. and W. Edward Scheetz sold 481,958 shares of Morgans Hotel Group Co. stock between Nov. 8 and Dec. 13.
The shares were priced from $16.97 to $17.16 each, according to an amended schedule 13D filing with the Securities and Exchange Commission.
On Nov. 12, WES Holdings LLC, a Scheetz affiliate, filed a Form 144 so it would be free to sell 736,342 restricted shares of common stock or any fraction of them, within 90 days of the filing. The amended 13D filing takes into account the sale of 350,100 of those shares by WES Holdings in the open market between Nov. 15 and Dec. 13.
The reporting persons beneficially own 2,787,022 shares, or 8.02%, of New York-based hospitality company.
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