PG&E Fire Victims Look to Sue Former Shareholders Over Claims

March 2, 2020, 8:32 PM

A committee of PG&E Corp. wildfire victims is asking a California bankruptcy judge to let them sue the utility’s former shareholders in order to take over their claims for stock losses following several deadly blazes that forced the power utility into bankruptcy.

The tort claimants’ committee in PG&E’s Chapter 11 case is seeking to protect up to an estimated $2 billion worth of claims the California electricity giant pledged to a fire victims’ trust as it works to forge a path out of bankruptcy.

The claims at issue were asserted by former shareholders following the 2017 North Bay fires and...

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