El Paso Can't Kick Derivative Suit Over $810M Natural Gas Deal

Law360, Wilmington (October 26, 2012, 8:50 PM EDT) -- A Delaware judge on Friday refused to dismiss a derivative suit claiming El Paso Corp. soaked several hundred million dollars from certain limited partners in a natural-gas deal, ruling the facts presented raised sufficient doubts about the $810 million sale.

Filed in Delaware Chancery Court, the complaint alleges El Paso Pipeline Partners LP had the unfavorable deal foisted upon it by parent El Paso and the pipeline partnerships' general partner and board, all of which had good reason to know the price tag was too high....
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