December 21, 2018 / 2:00 AM / 6 months ago

Pension fund sues PG&E top brass, linking fires to safety lapses

A firefighters’ pension fund on Thursday sued current and former directors and officers of Pacific Gas & Electric Corp for allegedly failing to ensure the safety compliance of electrical power and distribution lines that contributed to massive wildfires in Northern California last year.

In a shareholder derivative complaint in U.S. District Court for the Northern District of California, the Oklahoma Firefighters Pension and Retirement System said PG&E’s leadership exposed the company to billions in liability and expenses by “systematically and repeatedly” failing in their fiduciary duties to ensure the utility’s safe provision of services.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2EF0LeB

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