PG&E INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of PG&E Corporation - PCG3 Views
NEW ORLEANS, Dec. 7, 2018 /PRNewswire/ -- 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 8th, 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 and 2018 fires, including as much as $30 billion in potential liabilities, 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, and recently, a class action lawsuit brought by victims of the fires.
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 protected]), 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.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC