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Kinder Morgan paying $110 million to settle investor suits.

Bloomberg News (9/8, Feeley) reported, "Kinder Morgan Inc. will pay $110 million to end lawsuits by investors over its purchase of gas-pipeline owner El Paso Corp. in a settlement that includes concessions by Goldman Sachs Group Inc. (GS), according to court papers." Attorneys for El Paso stakeholders said in a filing in Delaware Chancery Court last week that Kinder Morgan had "agreed to settle claims that El Paso investors were shortchanged in the $21.1 billion buyout, which provided $25.91 a share." Reacting to the settlement, "Kinder and Goldman Sachs officials denied any wrongdoing," and said the agreement was reached "solely to avoid the substantial burden, expense, inconvenience and distraction of continued litigation."

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