Environmental
Apr. 24, 2017
PG&E shareholders obtain $90M preliminary settlement
Shareholders and PG&E agree to $90 million settlement stemming from the 2010 San Bruno pipeline explosion, with money to go toward changes in corporate governance and safety on the ground.
By James Getz
Daily Journal Staff Writer
Daily Journal Staff Writer
Shareholders who sued Pacific Gas & Electric in multiple derivative actions arising out of the utility's 2010 pipeline explosion in San Bruno preliminarily agreed to a $90 million settlement with the company.
The money will go toward funding changes in corporate governance and improving safety on the ground, 61/2 years after the explosion killed eight people and destroyed 38 homes.
"While t...
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