PG&E INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of PG&E Corporation - PCG
NEW ORLEANS--(BUSINESS WIRE)--Jan 4, 2019--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 (NYSE: PCG).
In October 2017, eighteen wildfires devastated Northern California, seventeen of which investigators found were caused by the Company’s equipment with eleven showing safety regulation violations. 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 for occurrences the morning of November 8 th, the first citing an outage 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 2017-2018 fires, including as much as $30 billion in liabilities, a securities class action lawsuit for failing to disclose material information to investors relating to the 2017 wildfires in violation of federal securities laws, a class action lawsuit by fire victims, and recently, lawsuits filed by several insurance companies.
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 ( email@example.com ), or visit https://www.ksfcounsel.com/cases/nyse-pcg/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190104005500/en/
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kahn Swick & Foti, LLC
Copyright Business Wire 2019.
PUB: 01/04/2019 10:50 PM/DISC: 01/04/2019 10:50 PM