Dec. 6, 2013
/PRNewswire/ -- Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and the enforcement of federal antitrust laws, is investigating potential claims against the Board of Directors of Gas Natural Inc. ("Gas Natural" or the "Company") (NYSE: EGAS) concerning possible breaches of fiduciary duty and other violations of state law.
November 15, 2013
, Gas Natural announced that an Opinion and Order had been issued by the Public Utilities Commission of
(PUCO), related to the gas cost recovery cases involving two of the Company's operating subsidiaries. The findings of the PUCO report included, among other things, numerous instances of dubious related party transactions that led to customers being overcharged, lack of inadequate internal controls and the Company's improper manipulation of the regulated utility business. The PUCO report is a result of a 2012 audit of the Company designed to see if Gas Natural was properly billing its customers for natural gas in accordance with regulated recovery practices. The 2012 audit was actually a follow up to an audit in 2010 which raised questions about the Company's enforcement of contract terms, appropriateness of purchase price provisions, and related party transactions. Shareholders interested in seeking to recover damages on behalf of EGAS and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
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Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action and derivative litigation. The firm is focused on providing exemplary legal services in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.