PG&E Lawsuit Status
The lawsuit against PG&E is underway. Several suits have been filed. We expect additional plaintiffs to the complaints as facts and damages are ascertained. The first hearing on the coordinated proceeding was on January 2. Judge's recommendation (which still needs to be adopted by the Judicial Council) is to coordinate all cases related to all October NorCal Fires in San Francisco Superior Court. This is a good thing as this court is equipped for a case of this magnitude.
PG&E decided to suspend its dividends to shareholders acknowledging that if its equipment is found to have caused the October fires, the company could be held liable and be responsible for significant financial damages payments to the fire victims. The company decided it needed to reserve its cash, therefore halting dividend payments.
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