NEW YORK, Nov. 15, 2018 /PRNewswire/ -- 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 [email protected] 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.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP