PG&E LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000
in PG&E Corporation to Contact the Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in PG&E Corporation (“PG&E” or the
“Company”) (NYSE: PCG) of the August 13, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that
has been filed against the Company.
If you invested in PG&E stock or options between August 15, 2017 and July 26, 2018 and would like to discuss your
legal rights, click here : www.faruqilaw.com/PCG. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com .
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who
purchased PG&E securities between April 29, 2015 and June 8, 2018 (the “Class Period”). The case, Weston v. PG&E
Corporation et al., No. 18-cv-03509 was filed on June 12, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading
statements and/or failing to disclose that: (i) PG&E had failed to maintain electricity transmission and distribution networks
in compliance with safety requirements and regulations promulgated under state law; (ii) consequently, PG&E was in violation of
state law regulation; (iii) PG&E’s electricity networks would cause numerous wildfires in California; and (iv) as a result of
the foregoing, PG&E’s statements about the Company’s business and operations were materially false and misleading at all
relevant times.
Specifically, on or about October 11, 2017, various news outlets reported that Californian authorities and officials were
looking at whether PG&E’s power lines had caused numerous wildfires started in California, burning at least 245,000 acres and
devastating properties in Sonoma, Mendocino, Lake, Santa Rosa, Napa, Humboldt, Butte, and Solano counties.
After the announcement, PG&E’s share price fell from $69.15 per share on October 11, 2017 to a closing price of $53.43 on
October 16, 2017—a $15.72 or a 22.73% drop.
Then, on December 20, 2017, PG&E issued a press release, also attached as exhibit 99.1 to the Form 8-K filed with the
Securities Exchange Commission announcing the suspension of its cash dividend. Therein, PG&E stated that it was suspending its
quarterly cash dividend on the Company’s common stock “beginning with the fourth quarter of 2017 citing uncertainty related to
causes and potential liabilities associated with the extraordinary October 2017 Northern California wildfires.”
After the announcement, PG&E’s share price fell from $51.52 per share on December 20, 2017 to a closing price of $44.50 on
December 21, 2018—a $7.02 or a 13.6258% drop.
Then, on May 25, 2018, the California Department of Forestry and Fire Protection (“CAL FIRE”) issued a press release announcing
the cause of four wildfires in Butte and Nevada counties, stating among other things, that “[t]he investigation found evidence that
PG&E allegedly failed to remove a tree from the proximity of a power line, in violation of the state Public Resources Code
section 4293.”
After the announcement, PG&E’s share price fell from $44.66 per share on May 25, 2018 to a closing price of $42.34 on May
29, 2018—a $2.32 or 5.19% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain
an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or
not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PG&E’s conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future
matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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