Court Grants Preliminary Approval of Settlement in Gas Royalty Case
MERRILLVILLE, Ind., Oct 24, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- NiSource Inc. (NYSE: NI) today announced that the West Virginia Circuit Court for Roane County, W.Va., has granted preliminary approval of the establishment of a settlement fund of $380 million in the case of the Estate of Garrison G. Tawney et. al. vs. Columbia Natural Resources, et. al.
The settlement is subject to final approval by the Court, following a fairness hearing currently scheduled for Nov. 22, 2008. Class members may object to or opt-out of the settlement.
NiSource's share of the prospective settlement fund would be $338.8 million.
About NiSource
NiSource Inc. (NYSE: NI), based in Merrillville, Ind., is a Fortune 500 company engaged in natural gas transmission, storage and distribution, as well as electric generation, transmission and distribution. NiSource operating companies deliver energy to 3.8 million customers located within the high-demand energy corridor stretching from the Gulf Coast through the Midwest to New England. Information about NiSource and its subsidiaries is available via the Internet at www.nisource.com. NI-F
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of NiSource, Chesapeake Energy and their respective managements. Although NiSource and Chesapeake Energy believe that the expectations are based on reasonable assumptions, they can give no assurance that their goals will be achieved. Readers are cautioned that the forward-looking statements in this release are not guarantees of future results and that the settlement agreement is not final unless ultimate approval of the settlement agreement is obtained following the November 22, 2008 fairness hearing. NiSource and Chesapeake Energy expressly disclaim a duty to update any of the forward-looking information contained in this release.
SOURCE NiSource Inc.
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