Warren Buffett's PacifiCorp faces $30 bln new wildfire claims [Reuters]
PACIFICORP(OREG) 6 PR (PPWLO)
Company Research
Source: Reuters
April 30 (Reuters) - A utility owned by Warren Buffett's Berkshire Hathaway faces $30 billion of new claims blaming it for causing Oregon wildfires in 2020, nearly four times the maximum loss it had projected. One thousand victims filed claims against the PacifiCorp utility on Monday in a state court in Portland. Victims are each seeking up to $5 million for actual losses such as property damage, and up to $25 million for non-economic losses such as emotional distress. The claimants were added to litigation where a jury last June ordered PacifiCorp to pay $90 million to 17 claimants for over its failure to shut down power lines during a Labor Day windstorm. PacifiCorp is appealing. Through late February, the Portland-based utility had paid $735 million to settle wildfire claims by several hundred people and 10 timber companies. Neither PacifiCorp nor its immediate parent Berkshire Hathaway Energy immediately responded on Tuesday to requests for comment. Buffett's conglomera
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