$200M settlement sought in Kinder Morgan case

? A class action lawsuit against gas pipeline company Kinder Morgan is nearing a settlement.

A Shawnee County judge considered a $200 million settlement offer during a hearing Friday. Both sides have agreed to the deal.

Judge David E. Bruns says he expects to issue a final decision approving it early next week.

The suit accuses the managers of breaching their fiduciary duty by offering an “inadequate and unfair” price when they took the company private in a $13.4 billion deal in 2006.

Kinder Morgan spokesman Larry Pierce says the company denies allegations of wrongdoing but wants to avoid the expense and uncertainty of continued litigation.

The case was consolidated and heard in Kansas because the company was incorporated in the state, although it is headquartered in Houston, Texas.