El Paso Pays $110M To End Investor Suit Over Kinder Buy

Law360, Wilmington (September 7, 2012, 7:36 PM EDT) -- El Paso Corp. inked a $110 million settlement on Friday with its shareholders to resolve a class action over Kinder Morgan’s $21.1 billion buyout of the pipeline operator, which a Delaware state judge had suggested was soiled by conflicts of interest.

The deal resolves all shareholder claims against the El Paso board in connection with the takeover, as well as those against financial adviser Goldman Sachs & Co., which gave up its $20 million advisory fee and right to indemnification for court costs in the settlement,...
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