In Re El Paso

CONCLUDED

Hearing
02/09/12 – 02/09/12

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Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2

Summary

In this mergers and acquisition litigation hearing, plaintiff El Paso Corporation Shareholder were seeking a preliminary injunction to enjoin a merger between El Paso Corporation and Kinder Morgan, Inc. The plaintiff’s counsel claimed when El Paso’s CEO was supposed to be getting the maximum price from Kinder Morgan, he actually had an interest in not doing that and that this undisclosed conflict of interest compounded the reality that the Board and management of El Paso relied in part on advice given by a financial advisor, Goldman, Sachs & Co., which owned 19% of Kinder Morgan (a $4 billion investment) and controlled two Kinder Morgan board seats.

The plaintiffs were represented by attorney Mark Lebovitch. The defendant in this case, El Paso Corporation was represented by attorney Paul Rowe.

Sessions

Recording Disclaimer: This proceeding was recorded in full.

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