Update: Lawsuit for Investors in shares of PG&E Corporation (NYSE: PCG) announced by Shareholders Foundation
SAN DIEGO, CA, December 17, 2018 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of PG&E Corporation (NYSE: PCG).
Investors, who purchased shares of PG&E Corporation (NYSE: PCG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On June 8, the California Department of Forestry and Fire Protection, or CalFire, concluded that over 10 wildfires that sparked in October 2017 "were caused by electric power and distribution lines, conductors and the failure of power poles" owned by PG&E. These fires burned approximately 249,000 acres, destroyed 8,898 structures, and killed 44 people across nine counties: Napa, Sonoma, Mendocino, Lake, Humboldt, Butte, Nevada, Solano, and Yuba, and resulted in damages estimated at more than $17 billion.
On June 12, 2018, a lawsuit was filed against PG&E Corporation over alleged securities laws violations. More specifically, the plaintiff claims that defendants made false and/or misleading statements and/or failed to disclose that PG&E had failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law, that consequently, PG&E was in violation of state law regulation, that PG&E's electricity networks would cause numerous wildfires in California, and that as a result of the foregoing, Defendants' statements about the Company's business and operations were materially false and misleading at all relevant times.
On November 8, 2018, the Camp Fire started in the Sierra Foothills and continued blazing for 17 days. The fire, which was fully contained as of Sunday morning, charred 153,000 acres in Butte County, destroyed more than 1,200 homes and buildings and killed at least 85 people with nearly 300 people still missing.
On November 9, 2018, and on December 14, 2018, amended complaint were filed.
Those who purchased PG&E Corporation (NYSE: PCG) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
Source: Shareholders Foundation, Inc.
