On Friday, Shares of Kinder Morgan, Inc. (NYSE:KMI), gained 2.47% to $33.96.
Kinder Morgan agreed to pay $27.5 million to resolve investors’ claims it artificially inflated more than $3.2 billion in payouts it collected from a pipeline partnership, according to Bloomberg.
The company agreed to resolve lawsuits filed by investors in its Kinder Morgan Energy Partners LP unit claiming improper distribution of profit payments, according to court documents filed Friday. Bloomberg Reports
Kinder Morgan officials violated the partnership agreement by misclassifying expenses so it could wrongfully pump up payments to itself, the investors alleged in Delaware Chancery Court suits. Bloomberg added.
Kinder Morgan, Inc. operates as an energy infrastructure and energy company in North America. The company operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada, and Other segments.
Shares of AK Steel Holding Corporation (NYSE:AKS), inclined 0.96% to $3.15, during its last trading session.
AK Steel Holding Corporation declared that it has joined other major domestic steel producers in filing anti-dumping and counter-vailing duty petitions related to hot-rolled steel.
The anti-dumping petitions charge that unfairly-traded imports of certain hot-rolled steel flat products from Australia, Brazil, Japan, South Korea, the Netherlands, Turkey and the United Kingdom are causing material injury to the domestic industry.
The petitions also allege that the foreign producers in Brazil, South Korea, and Turkey benefit from numerous counter-vailable subsidies offered by their governments. The petitions identify 33 different subsidy programs in Brazil, 41 subsidy programs in South Korea, and 17 subsidy programs in Turkey.
AK Steel Holding Corporation, through its partner, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, counting coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms.
Finally, Energy XXI Ltd. (NASDAQ:EXXI), ended its last trade with 1.17% gain, and closed at $1.73.
Energy XXI declared it will host a conference call on Monday, September 14, 2015 at 9 a.m. CT to talk about fiscal 2015 fourth-quarter and year-end financial and operating results for the period ended June 30, 2015.
Energy XXI Fiscal 2015 Fourth-Quarter and Year-End Conference Call
- September 14, 2015 — 9 a.m. CT
- Live Dial-in (Confirmation Code 7921238)
1 (631) 813-4724
Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2014, the company had proved reserves of 246.2 million barrels of oil equivalent.
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