NEW ORLEANS--(BUSINESS WIRE)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into PG&E Corporation (PCG).
In October 2017, eighteen wildfires devastated Northern California, seventeen of which investigators found were caused by the Company’s equipment with eleven evidencing violations of safety regulations. Then, on November 8, 2018, another wildfire began in the town of Pulga, California, becoming the deadliest and the most destructive wildfire in California history, killing at least 79 people with approximately 700 missing. The Company subsequently filed two incident reports with state regulators, both for outages that occurred the morning of November 8th. The first cited an outage at a line near Pulga; the second, a failed circuit in Concow. Notably, the second report was not filed until the day after investigators announced a possible second origin of the fire, in Concow.
The Company has been exposed to significant financial losses for the 2017 and 2018 fires, including as much as $30 billion in potential liabilities and an ongoing securities class action lawsuit relating to the 2017 wildfires for failing to disclose material information to investors in violation of federal securities laws.
KSF’s investigation is focusing on whether PG&E’s officers and/or directors breached their fiduciary duties to PG&E’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of PG&E shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-pcg/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.