NEW YORK, June 14, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against PG&E Corporation (“PG&E” or the “Company”) (NYSE: PCG ) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired PG&E securities between April 29, 2015, and June 8, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/pcg .
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) PG&E had failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law; (2) as a result, the Company was in violation of state law regulation; (3) PG&E’s electricity networks would cause numerous wildfires in California; and (4) consequently, Defendants’ statements about PG&E’s business and operations were materially false and misleading at all relevant times.
On June 9, 2018, Bloomberg published an article 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.” Following this news, PG&E’s share price fell $1.69, or 4.08%, to close at $39.76 on June 11, 2018, the following trading day.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/pcg or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in PG&E you have until August 13, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
