El Paso Unit Can't Sink Investor Suit Over $667M Gas Co. Buy

Law360, Wilmington (November 5, 2012, 7:30 PM EST) -- A Delaware state judge on Monday refused to dismiss an investor action that alleges an El Paso Corp. unit knowingly foisted an unfavorable deal on certain limited partners, finding the complaint raised the plausibility that the $667 million purchase of a natural gas company was unfair.

Filed in Delaware Chancery Court, the suit claims El Paso Pipeline Partners LP was forced to overpay for a quarter stake in Southern Natural Gas Co. as a result of a bad-faith deal proposed by the El Paso 's general...
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