Environmental & Energy,
Civil Litigation
Aug. 5, 2021
Fires sink PG&E stock, bulk of victims’ settlement
The Fire Victim Trust, intended to compensate those victims, is the largest shareholder of PG&E stock, owning almost a quarter of the company. It owns more than 477 million shares and hasn’t sold any yet.
In June, retired 4th District Court of Appeal Justice John K. "Jack" Trotter said he worried about the impact of fire season on PG&E Corp. stock that is a big part of the settlement he is in charge of distributing.
That concern is starting to seem prophetic, as the utility has acknowledged to state regulators it may be responsible for two new fires that have merged and burned hundreds of thousands of acres while destroying dozens of str...
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