Pomerantz LLP is investigating claims on behalf of investors of Pacific Gas and Electric Company ("Pacific Gas" or the "Company") (NYSE: PCG-PA; PCG-PB; PCG-PC; PCG-PD; PCG-PE; PCG-PG; PCG-PH; PCG-PI).
Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Pacific Gas and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 8, 2018, a wildfire started in the town of Pulga, California, and subsequently incinerated the nearby town of Paradise, killing at least 42 people. On November 12, 2018, the California Public Utilities Commission launched an investigation into Pacific Gas's parent company, PG&E Corporation ("PG&E"), in order to "assess the compliance of electrical facilities with applicable rules and regulations in fire-impacted areas." On November 13, 2018, The Associated Press reported that PG&E Corporation had contacted a resident of Pulga the day before the start of the fire, "saying they needed access to her property because their power lines were causing sparks." Following these announcements, Pacific Gas's preferred share prices fell sharply, damaging investors.