PG&E Investors Win Judge’s Final Nod for $10 Million Settlement

PG&E Corp. and investors who say it misled them about its safety protocols in the wake of deadly wildfires caused by the company’s equipment secured final approval for their $10 million deal from a federal judge in California.

The settlement “recovers slightly more than 2%" of estimated damages, which is “consistent with the 2-3% average recovery that the parties identified in other securities class action settlements,” the U.S. District Court for the Northern District of California said.

Investors accused the utility company of not telling them that its new protocols were “inadequate and missed dangerous conditions” and that it ...