PG&E tumbles more than 50% in premarket trading after CEO resigns amid billions in potential liabilities and bankruptcy concerns (PCG)
|01/14/2019||Posted by BusinessMediaguide.Com under General World News||
- PG&E, California’s largest gas and power company, dropped more than 50% in premarket trading Monday.
- The utility is facing billions of dollars in potential liabilities after it was accused of negligence in one of the state’s most destructive wildfires last year.
- CEO Geisha Williams replaced as PG&E com templates bankruptcy following a 27% drop in its share price last week.
Devastating wildfires engulfed much of northern California last year, now they’re engulfing the state’s largest utility.
PG&E, short for Pacific Gas and Electric, plunged 51% in New York premarket trading after the company was said to be in discussions with investment read more >>>