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Morgans Hotel Group director Edward Scheetz reduces ownership to 9.9%
By Lisa Kerner
Charlotte, N.C., Oct. 27 - Morgans Hotel Group Co. director W. Edward Scheetz cut his stake in the company to 8.8% from 9.9%, according to a schedule 13D/A filed on Tuesday with the Securities and Exchange Commission.
Scheetz made a series of share sales and purchases between Oct. 20 and Oct. 25, the filing said.
Between Oct. 16 and Oct. 19, the investor sold 499,071 shares, a prior SEC filing said.
Scheetz beneficially owns 2,621,237 shares of the New York-based hospitality company.
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