Gas Natural Inc., a holding company, distributes and sells natural gas to residential, commercial, and industrial customers in the United States.

According to the Complaint, it is alleged that the members of the Company’s Board failed to fulfill their fiduciary duties and acted in bad faith by succumbing to the efforts of a self-interested shareholder and self-dealing officers to steer the sale of the Company to a private equity buyer and away from strategic buyers, resulting in a flawed and inadequate process.

The parties entered into a Stipulation of Settlement on March 7, 2017. Preliminary approval was granted March 15. Final approval was granted on July 5.