Market Overview

PG&E Trades Higher On $13.5B Wildfires Settlement

PG&E Trades Higher On $13.5B Wildfires Settlement

PG&E Corporation (NYSE: PCG) shares are trading higher after the company announced it reached a $13.5 billion settlement to resolve individual claims from recent fires including the 2018 Camp Fire and 2017 Tubbs fire.

The company has agreed to a settlement with the Official Committee of Tort Claimants (TCC) and with firms representing the individual claimants who sustained losses from the fires.

The settlement will resolve all claims arising from those fires, including the 2017 Tubbs Fire, as well as all claims arising from the 2015 Butte Fire and 2016 Ghost Ship Fire in Oakland.

"From the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary goal. We want to help our customers, our neighbors and our friends in those impacted areas recover and rebuild after these tragic wildfires," PG&E CEO Bill Johnson said in a statement.

PG&E shares were up 18% at $11.40 in Monday’s pre-market session. The stock has a 52-week high of $27.38 and a 52-week low of $3.55.

Related Links:

Analyst: Wildfires Raise Chance Of PG&E Shares Falling To Zero

PG&E Shutoffs, California Wildfires: The Latest

Posted-In: California wildfiresNews Legal Top Stories Best of Benzinga


Related Articles (PCG)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at