Bernstein Litowitz Berger & Grossmann LLP and Grant & Eisenhofer P.A. Announce Pendency and Proposed Settlement of In re Kinder Morgan Energy Partners, L.P. Capex Litigation

NEW YORK, Sept. 29, 2015 /PRNewswire/ --

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF
UNITHOLDER ACTION, SETTLEMENT HEARING,
AND RIGHT TO APPEAR 

PLEASE READ THIS NOTICE CAREFULLY.  YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED that Lead Plaintiff in the above-captioned consolidated unitholder action (the "Action") has reached a proposed settlement of the Action for $27.5 million in cash (the "Settlement") that, if approved by the Delaware Court of Chancery (the "Court"), will resolve all claims asserted in the Action as well as certain other claims, including all claims asserted in the Texas Action (defined in the full printed Notice of Pendency and Proposed Settlement of Unitholder Action, Settlement Hearing, and Right to Appear (the "Notice")).

YOU ARE ALSO HEREBY NOTIFIED THAT a hearing will be held on November 23, 2015 at 10:00 a.m. before Vice Chancellor J. Travis Laster, at the Court of Chancery in the New Castle County Courthouse, 500 North King Street, Wilmington, DE 19801, to determine (i) whether the Class should be permanently certified for Settlement purposes; (ii) whether the proposed Settlement should be approved as fair, reasonable and adequate; (iii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated August 14, 2015 (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Co-Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.

Please be advised that the Action has been preliminarily certified by an Order of the Court, solely for purposes of the Settlement, pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2), as a non-opt out class action on behalf of the Class, except for certain Persons who are excluded from the Class by definition as set forth in the Notice.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND THE SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.  If you have not yet received the Notice and the Proof of Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at In re Kinder Morgan Energy Partners, L.P. Capex Litigation, c/o A.B. Data, Ltd., P.O. Box 170900, Milwaukee, WI  53217, (888) 208-1235.  Copies of the Notice and Proof of Claim Form can also be downloaded from the settlement website maintained by the Claims Administrator, www.kindermorgancapexlitigationsettlement.com.  

If you are a Class Member, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Proof of Claim Form postmarked no later than December 26, 2015.  If you are a Class Member and do not submit a proper Proof of Claim Form, you will not share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.    

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Co-Lead Counsel's application for attorneys' fees and reimbursement of expenses, must be filed with the Register in Chancery and delivered to Co-Lead Counsel and counsel for Defendants and the Partnership such that they are received no later than November 13, 2015, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CALL OR WRITE THE COURT OR THE OFFICE OF THE REGISTER IN CHANCERY REGARDING THIS NOTICE.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Co-Lead Counsel or the Claims Administrator:

Requests for the Notice and Proof of Claim
Form should be made to:

In re Kinder Morgan Energy Partners, L.P. Capex Litigation
c/o A.B. Data, Ltd.
P.O. Box 170900
Milwaukee, WI 53217
(888) 208-1235
www.kindermorgancapexlitigationsettlement.com

SOURCE Bernstein Litowitz Berger & Grossmann LLP and Grant & Eisenhofer P.A.

Related Links

http://www.kindermorgancapexlitigationsettlement.com

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