A lawsuit was filed on behalf of investors in PG&E Corporation (NYSE:PCG) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 07/03/2018 -- An investor, who purchased shares of PG&E Corporation (NYSE:PCG), filed a lawsuit over alleged violations of Federal Securities Laws by PG&E Corporation in connection with certain allegedly false and misleading statements.
Investors who purchased shares of PG&E Corporation (NYSE:PCG) should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On October 13, 2017, PG&E Corporation announced that its subsidiary, Pacific Gas and Electric Company, is under investigation as part of a probe into wildfires in Northern California. PG&E Corporation stated that the California Department of Forestry and Fire Protection is investigating the causes of the fire, including "the possible role of power lines and other facilities of…" Pacific Gas and Electric Company.
On June 9, 2018, an article was published entitled "PG&E May Face Criminal Charges After Probe of Deadly Wildfires." The article reported, in part, that following an investigation into the causes of wildfires "that altogether killed 44 people, consumed thousands of homes and racked up an estimated $10 billion in damages" in October 2017, California's fire agency "found evidence of alleged violations of law by PG&E in connection with" the fires. Specifically, the state's investigation found "that PG&E equipment caused at least 12 of the wine country blazes."
The plaintiff claims that between April 29, 2015, and June 8, 2018, the defendants made false and/or misleading statements and/or failed to disclose that PG&E had failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law, that consequently, PG&E was in violation of state law regulation, that PG&E's electricity networks would cause numerous wildfires in California, and that as a result of the foregoing, Defendants' statements about the Company's business and operations were materially false and misleading at all relevant times.
Those who purchased shares of PG&E Corporation (NYSE:PCG) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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