El Paso Pipeline Gp Company, L.L.C., Defendant Below, Appellant/cross-Appellee, and El Paso Corpor — Strine, J…

Summary

The concurrence joins the majority and emphasizes that the court should not extend the direct dilution-claim theory to a limited partnership already firmly controlled by its general partner, particularly where the challenged transaction did not affect limited-partner voting rights. It further argues that the existing doctrine is difficult to reconcile with traditional derivative-claim principles and should be reconsidered in an appropriate case. The concurrence contests the continued viability and clarity of the direct-claim theory in the dilution context.