Enbridge Pipeline Deal Bona Fide, Del. High Court Rules

Law360, San Francisco (May 29, 2013, 8:25 PM EDT) -- The Delaware Supreme Court Tuesday refused to revive a shareholder derivative and class action suit accusing Enbridge Energy Co. Inc. and its partners of bad-faith dealing for agreeing to sink $1.2 billion into a petroleum pipeline, agreeing with the lower court that the pleadings don't show bad faith.

The state's high court found no support in trustee Peter Brinckerhoff's complaint for the allegation that when Enbridge followed the financial and legal advice of Tudor Pickering Holt & Co. to co-fund the project it dealt in bad...
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