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Bankruptcy

Apr. 6, 2020

Wildfire victims cry foul over PG&E’s plunging stock value

PG&E and the victims agreed on a settlement in December to set up a $13.5 billion trust for wildfire victims, half of which is to be provided in equity.

Wildfire victims cry foul over PG&E’s plunging stock value
U.S. District Judge James Donato

Pacific Gas & Electric Corp. shares are in free fall, losing more than half their value in the last month because of market turmoil caused by the coronavirus.

Now, wildfire victims in PG&E's bankruptcy are calling foul play on the utility for refusing to guarantee that the $6.75 billion in stock it agreed to pay as part of a larger settlement will actually be worth that amount.

The committee repr...

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