In re PG&E Corporation Securities Litigation

Labaton Keller Sucharow is court-appointed lead counsel in a securities class action lawsuit against PG&E Corp., Pacific Gas and Electric Company (the Utility), current and former officers and directors, and underwriters related to allegedly false and misleading statements and omissions about safety and compliance leading up to the wildfires that devastated Northern California in October 2017 (the North Bay Fires) and November 2018 (the Camp Fire).  The case is In re PG&E Corporation Securities Litigation, No. 18-cv-03509 (N.D. Cal.) (the Action).  Labaton Keller Sucharow represents lead plaintiff Public Employees Retirement Association of New Mexico (PERA).

The Action asserts class claims on behalf of stock, options, and bond purchasers, including violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, as well as Sections 11 and 15 of the Securities Act of 1933.  It is pending in federal district court in San Francisco before Judge Edward J. Davila.

On January 29, 2019, the Utility and PG&E Corp. (together, PG&E) filed jointly for bankruptcy protection, which has had the effect of staying the Action.  The jointly administered bankruptcy actions are before Bankruptcy Judge Dennis Montali, Case Nos. 19-br-30088 and 19-br-30089, Bankr. N.D. Cal. (together, the PG&E Bankruptcy).  On September 30, 2022, Judge Davila issued an order staying the securities class action against all Defendants pending the resolution of the PG&E Bankruptcy.  PERA’s appeal of that order has been fully briefed and argued but the Ninth Circuit Court of Appeals has not yet issued its opinion.

Bankruptcy Court Recession or Damages Claimants

If you recently received an email or letter from Labaton Keller Sucharow about the PG&E Bankruptcy, PG&E has objected to your Claim and its legal sufficiency.

IF YOU DO NOT ACT THE BANKRUPTCY COURT WILL DISMISS YOUR CLAIM AGAINST PG&E

You have two options to keep your Claim alive: (1) You can prepare legal papers or hire a lawyer to do that for you, or (2) you can go here to adopt PERA’s current Complaint and join in PERA’s opposition to PG&E’s motion to dismiss the Complaint on sufficiency grounds for purposes of your Claim.  (Lead Counsel will not be representing you individually.)

To see a copy of your Claim, please go to the PG&E Rescission or Damage Claim Filter at https://restructuring.ra.kroll.com/pge/Home-ClaimInfo.

Information about the PG&E Bankruptcy is available at https://restructuring.ra.kroll.com/pge/Home-Index.

If you have any questions, please email ClaimFormQuestions@labaton.com or call 888-753-2796.