PGE Settles Class Lawsuit With Investors Over $127 Million Loss

Portland General Electric Co. will pay $6.75 million to end a dispute with investors who sued after the company announced a $127 million loss due to high-risk, non-retail trades, according to a settlement approved by an Oregon federal court.

The Public Employees Retirement System of Mississippi said in its class action complaint that the company made “false and misleading” statements about its energy trading practices.

The company began trading for non-retail purposes, or energy trading for the purpose of generating profit, in early 2020, the investors said. However, PGE’s statements in filings with the Securities and Exchange Commission said it ...