General World News

California wildfire victims could become PG&E’s biggest shareholders after a settlement — and assume the financial risk of future fires

California fire

  • Utility company PG&E — deemed responsible for hundreds of lethal wildfires in California — is looking to pay billions worth of settlement fees with its own stock, The Wall Street Journal reported Thurday.
  • The move would place financial risk of future fires on past victims, attorneys told The Journal, as disasters could cut into the stock price and even push regulatory fines on the claimants if they receive enough shares.
  • Others said that leaving victims ownership of the company responsible for their duress creates an unfair burden.
  • “Many of the victims feel, on principle, an unwillingness to be made owners of read more >>>

    Source:: BusinessInsider.Com