What's Going On with PG&E Today?
PG&E Tanks on Ruling $18 Billion in Fire Claims Can Advance
PG&E had already entered bankruptcy earlier this year. This was to help protect against paying for the 2018 Camp Fire, for which PG&E had been found liable.
Before that, state investigators determined that PG&E was NOT liable for the 2017 Tubbs fire. The Tubbs fire killed 22 people and major property damage.
But insurance lawyers and victims claim they can prove that PG&E's equipment was the cause of the Tubbs fire. And now they'll have their chance to prove it in court. A U.S. bankruptcy judge has just allowed the claims to go forward before a jury.
This means PG&E is looking at roughly $18 billion in additional legal claims.
The company is already navigating a bankruptcy. This potential liability could be catastrophic.