Warren Buffett's PacifiCorp faces $30 billion new wildfire claims [Yahoo! Finance Canada]
Berkshire Hathaway Inc. New (BRK.B)
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Source: Yahoo! Finance Canada
One thousand victims filed claims against the PacifiCorp utility on Monday in a state court in Portland. Victims are each seeking up to $5 million for actual losses such as property damage, and up to $25 million for non-economic losses such as emotional distress. The claimants were added to litigation where a jury last June ordered PacifiCorp to pay $90 million to 17 claimants for gross negligence over its failure to shut down power lines during a Labor Day windstorm. ADVERTISEMENT PacifiCorp is appealing. Through late February, the Portland-based utility had paid $735 million to settle wildfire claims by several hundred people and 10 timber companies. Neither PacifiCorp nor its immediate parent Berkshire Hathaway Energy immediately responded on Tuesday to requests for comment. Buffett's conglomerate owns 92% of Berkshire Hathaway Energy. The claims were filed two months after Buffett warned in his annual shareholder letter that wildfires could threaten the survival of ut
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