Investor Accuses Kinder Morgan Of Bilking Payout Pool

Law360, Wilmington (February 6, 2014, 7:12 PM EST) -- A Kinder Morgan Energy Partners LP investor launched a putative class action Wednesday alleging that Kinder Morgan Inc. intentionally misclassified expenses in order to artificially inflate payouts, of which it got 50 percent.

Jon Slotoroff claims in a complaint filed in Delaware Chancery Court that KMI and the partnership's general partner, wholly owned subsidiary Kinder Morgan GP Inc., manipulated the formula used to determine the quarterly distributions issued by Kinder Morgan Energy Partners, or KMP.

“KMI has used its control over KMP to allocate cash flow...
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