Kinder Morgan Inc., which manages more than 80,000 miles of gas, oil and carbon dioxide pipelines, was sued in Delaware by an investor seeking damages for alleged improper distribution of affiliates’ profits.
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., according to court papers.
For more than 60 years, the Tennessee Gas Pipeline has linked natural-gas wells in Texas to customers in the north. Until last year, it paid federal corporate income taxes on its earnings, setting aside $107 million in 2011 alone.
A U.S. investigation of possible insider-trading by Goldman Sachs Group Inc. employees expanded to include a managing director whose name emerged at the trial of convicted hedge fund manager Raj Rajaratnam, a person with knowledge of the probe said.
Swiss banks will likely settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, Bloomberg News’ David Voreacos, Klaus Wille and Giles Broom report.