PARIS — The attorney for C.N. Brown Co. said Friday that the company and shareholders Bob and Gary Bahre have reached an out-of-court settlement that leaves C.N. Brown 100 percent in control of the company.

The agreement, which is expected to be finalized by the end of this month, means C.N. Brown will pay an undisclosed amount of money to Bob and Gary Bahre, who live in Alton, N.H., for their shares in the company. The father and son acquired 40 percent interest in the company in 2006. The stock is privately held.

“For a reasonable price, he dropped the lawsuit,” said C.N. Brown attorney Stephen Langsdorf of Preti Flaherty in Augusta.

The Bahres, who used to live in Paris, filed a complaint against the owners of the Paris-based heating oil company in Oxford County Superior Court last March saying five members of the board of directors engaged in “illegal, oppressive or fraudulent behavior.” The assertions included allegations of misapplying and wasting corporate assets.

In April, C.N. Brown answered the complaint saying the Bahres engaged in “greedy, self-dealing, abusive and oppressive conduct” in violation of their fiduciary duties as shareholders.

The Bahres contended they were denied a seat on the board of directors. The members are CEO Harold Jones of Norway and his three children, Jinger Duryea of Norway, president; Kurt Jones of Falmouth, treasurer; Grant Jones of Norway, senior vice president; and the only non-family board member, Charles “Chick” Wilkins, vice president and general manager.

The arrangement was reached at mediation in Portland last month, but the decision, which includes the actual passing of a check, is not expected to be finalized until later this month, Langsdorf said.

Bahre could not be reached for comment.

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