As of 6:15 AM EST this morning, the Board of Orient-Express Hotels Ltd (NYSE:OEH) has had a target placed on themselves. In a filing with the SEC, David E. Shaw's DE Shaw Group (including TWO client hedge funds and a prop fund) and Stevie Cohen's CR Intrinsic Investors have formed an investor group targeting the Board's continual approval of what the Group calls an illegal corporate structure. When two of the smartest guys on Wall Street send you a letter, don't respond with a four-line rebuttal saying, "We didn't do it". OEH - you're in big, big trouble.
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