NEW YORK, June 2, 2006 (PRIMEZONE) -- Notice is hereby given that Bull & Lifshitz, LLP has filed a securities class action in the Circuit Court of Harris County, Texas, on behalf of owners of the common stock of Kinder Morgan, Inc. ("KMI" or the "Company") (NYSE:KMI).
The Complaint alleges Richard D. Kinder, the Chairman and CEO of KMI, together with other members of management, and investment partners Goldman Sachs Capital Partners, American International Group, Inc., The Carlyle Group and Riverstone Holdings LLC, has submitted a proposal to acquire all of the outstanding common stock of KMI at a price of $100 per share in cash.
The Complaint alleges that the price of $100.00 per share offered to the class members is unconscionable, unfair and grossly inadequate consideration and has been the object of manipulation because, among other things: (a) the intrinsic value of the stock of KMI is materially in excess of $100.00 per share, giving due consideration to the possibilities of growth and profitability of KMI in light of its business, earnings and earnings power, present and future; (b) the $100.00 per share price is inadequate and offers an inadequate premium to the public stockholders of KMI; and (c) the $100.00 per share price is not the result of arm's length negotiations but was fixed arbitrarily by KMI to "cap" the market price of KMI stock, as part of a plan for defendants to obtain complete ownership of KMI assets and business at the lowest possible price.
For an information package (http://www.nyclasslaw.com/infopackage.html) or if you wish to discuss this action, or have any questions concerning this notice of your rights or interests with respect to this matter, please contact Joshua M. Lifshitz, Esq., Bull & Lifshitz, LLP, via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com
More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca