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Federal Judge Orders PG&E To Respond To Recent WSJ Accusations By July 31

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Federal Judge Orders PG&E To Respond To Recent WSJ Accusations By July 31

PG&E Corporation (NYSE: PCG) has been ordered by a federal judge on Wednesday to respond, “on a paragraph-by-paragraph basis,” to a Wall Street Journal investigation that states the company failed to upgrade hundreds of miles of high-voltage power lines despite knowing they could fail and spark wildfires by July 31, according to to the newspaper.

Investigators have linked PG&E’s equipment to wildfires that killed dozens of people in recent years.

District court judge in Northern California William Alsup is overseeing PG&E’s probation after the company was convicted of safety-related violations following a natural-gas explosion that killed eight people in 2010.

The online version of the WSJ article was published Wednesday.

PG&E shares closed Wednesday down 2.24% at $21.40 in Thursday’s pre-market session. The stock has a 52-week high of $49.42 and a 52-week low of $5.07.

Related Links:

PG&E Investors Optimistic Following California Senate's Wildfire Measure

San Francisco Explores Potential Acquisition Of PG&E Assets

 

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Posted-In: California wildfires Wall Street JournalNews Legal Media Best of Benzinga

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