NEW YORK, Oct. 13, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Gas Natural Inc. ("EGAS" or the "Company") in connection with the proposed acquisition of the Company by First Reserve Energy Infrastructure ("First Reserve"). On October10, 2016, the Company announced that it had reached a definitive agreement for First Reserve to acquire all outstanding shares of EGAS in a transaction valued at approximately $196 million. Under the terms of the agreement, EGAS shareholders will receive $13.10 in cash for each EGAS share they own.
WeissLaw is investigating whether EGAS's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently announced positive financial results for the second quarter of fiscal year 2016. On August 9, EGAS reported "[r]evenue for the 2016 second quarter increased approximately 6% over the prior-year quarter."
Given these facts, WeissLaw is investigating whether EGAS's Board acted in the best interests of EGAS's public shareholders to maximize shareholder value prior to entering into the agreement. If you own EGAS shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP