The electricity provider that caused the California wildfires has reached an $11 billion settlement
|09/13/2019||Posted by BusinessMediaguide.Com under General World News||
- PG&E has reached an agreement to pay $11 billion to settle insurance claims over its role in the California wildfires.
- The utility company’s power lines were blamed for wildfires that ravaged Northern California in 2017 and 2018 and resulted in more than 100 deaths.
- Mounting legal claims over the last two years forced PG&E to filed for Chapter 11 bankruptcy in January.
- Shares of PG&E rose as much as 10% on the news.
PG&E has reached another major settlement regarding its role in the deadly California wildfires.
The utility company has agreed to pay $11 billion to settle insurance read more >>>