Forest owners file $225M lawsuit against PG&E for Dixie Fire damages [CBS News]
Pacific Gas & Electric Co. (PCG)
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Source: CBS News
The plaintiffs in the lawsuit , which was filed in the San Francisco County Superior Court, are the owners of the Collins Almanor Forest, located in Plumas and Tehama counties. The owners claim fire-related injuries and damages sustained by several forestland owners whose property and timber were charred in the fire. They are seeking an estimated $225 million in damages for property loss. They are also seeking environmental damages as they say their forestland that was burned "has been managed sustainably since 1902." The fire sparked on July 13, 2021, and burned more than 963,000 acres across Plumas, Butte, Tehama, Shasta and Lassen counties. Cal Fire said the fire started when a tree fell onto PG&E equipment near the Cresta Dam in Plumas County. "The day before the fire, these trees were part of a thriving, sustainably-managed commercial forest; the day after the fire, those trees were virtually worthless - amounting to only what could be salvaged of the burned logs," said
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- PG&E Co. (NYSE: PCG) had its price target raised by analysts at Barclays PLC from $20.00 to $21.00. They now have an "overweight" rating on the stock.MarketBeat
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 4/25/24 - Form 8-K
- 4/25/24 - Form 10-Q
- 4/4/24 - Form ARS
- PCG's page on the SEC website