LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of PG&E Corporation ("PG&E" or the "Company") (NYSE: PCG) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Bloomberg published an article on June 9, 2018, titled “PG&E May Face Criminal Charges After Probe of Deadly Wildfires.” The article stated that the California Department of Forestry and Fire Protection released findings on 12 wildfires that occurred in late 2017, indicating that they were caused by PG&E equipment. These fires in Northern California “killed 44 people, consumed thousands of homes and racked up an estimated $10 billion in damages.” Bloomberg’s article continued to say the State of California found “evidence of alleged violations of law by PG&E.” Based on this news, shares of PG&E fell over 4%, or $1.69, to close at $39.76 on June 11, 2018.
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