Delaware Chancery Court Scolds Goldman Sachs for Conflicts of Interest (Again)

Chancellor Leo Strine of the Delaware Chancery Court has had enough of Goldman Sachs' disregard for the M&A rules everyone else plays by. His 34 page report in a shareholder challenge to Kinder Morgan's $21.1 billion acquisition of El Paso Corp scolds Goldman's eagerness to remain an adviser to longtime client El Paso even though Goldman held a $4 billion stake and two board seats at Kinder Morgan.  Only 4 months earlier, Chancellor Strine scolded Goldman for manipulation valuations in the Southern Peru Copper Case.

Originally Published: 
29/02/2012