NEW YORK, June 21, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired PG&E Corporation (NYSE: PCG ) securities between April 29, 2015 and June 8, 2018 (the “Class Period”). Investors have until August 13, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that defendants made 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) consequently, PG&E was in violation of state law regulation; (3) PG&E's electricity networks would cause numerous wildfires in California; and (4) as a result of the foregoing, Defendants' statements about the Company'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 that an investigation into the causes of California wildfires in October 2017 by California's fire agency "found evidence of alleged violations of law by PG&E in connection with" the fires.
On June 21, 2018, PG&E announced that it will take a $2.5 billion charge related to its role in the California wildfires. The Company stated that the charge will be included in its second-quarter financial results. PG&E says that expects to incur losses from at least 14 of the fires already investigated, and warned that its liabilities may grow as state investigators release further findings.
If you purchased or otherwise acquired PG&E Corporation securities during the Class Period or continue to hold shares purchased during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com , or telephone at (212) 355-4648, or by filling out this contact form . There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the PG&E Corporation lawsuit, please go to https://bespc.com/pge/ . For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com .
Contacts Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. (212) 355-4648 investigations@bespc.com www.bespc.com
