The Shareholders Foundation announces that an investor in Kinder Morgan Energy Partners LP (NYSE:KMP) shares filed a lawsuit against directors of Kinder Morgan Energy Partners LP over alleged breaches of fiduciary duties.
Investors who are current long term stockholders in Kinder Morgan Energy Partners LP (NYSE:KMP) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges that Kinder Morgan Inc. has used its control over Kinder Morgan Energy Partners to allocate cash flow for distributions in bad faith. The plaintiff claims that Kinder Morgan and its board understated capital expenditures incurred by the pipeline subsidiary to avoid cuts in distributable cash flow to Kinder Morgan, while putting Kinder Morgan Energy Partners LP in the position of having to take on billions in debt and sell equity. The plaintiff says that Kinder Morgan Inc. has ensured that, quarter after quarter, hundreds of millions of dollars exit Kinder Morgan Energy Partners and are thereafter not available for needed maintenance.
Kinder Morgan Energy Partners LP reported that its annual Total Revenue increased from over $7.88 billion in 2011 to over $8.64 billion in 2012 and that its respective Net Income rose from over $1.25 billion to over $1.33 billion.
Shares of Kinder Morgan Energy Partners LP (NYSE:KMP) closed on June 9, 2014, at $78.58 per share.
Those who purchased shares of certain Kinder Morgan Energy Partners LP have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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