PG&E to Pay $100 Million to End Investor Fire Prevention Row (1)

PG&E Corp. agreed to shell out $100 million to resolve investor allegations the utility, certain executives and board members, and underwriters of particular securities offerings misrepresented its safety compliance ahead of devastating Northern California wildfires in 2017 and 2018.

The investors’ counsel will seek no more than a quarter of the sum, or $25 million, in attorneys’ fees and litigation expenses no larger than about $5.72 million, shareholders said while requesting the US District Court for the Northern District of California preliminarily approve of the deal.

The settlement comes while another amended complaint was pending. Judge Edward J. Davila ...