Warren Buffett's PacifiCorp Now Faces $30 Billion Fire Claim Demand [BNN Bloomberg (Canada)]
PACIFICORP(OREG) 6 PR (PPWLO)
Company Research
Source: BNN Bloomberg
While the amount sought in an amended complaint filed Monday is about two and a half times what the utility is worth, it's also much bigger than the payout PacifiCorp might be expected to face based on claims resolved so far. Read More: Wildfires Are Upending Some of the Safest Bets on Wall Street The growing liabilities for PacifiCorp prompted Berkshire Chairman Warren Buffett to warn in his annual letter to investors that wildfires have turned utilities across the western US into risky investments. Utilities in California, Colorado, Hawaii and Texas have also faced billions in fire liabilities. A jury already found PacifiCorp liable in 2023 for its role in the fires, but victims must undergo separate trials to determine individual damages. The new filing in state court in Portland formally adds the names of 1,000 residents who are covered by a class action case over the destruction of about 2,500 properties in western Oregon. Jurors so far have awarded 36 plaintiffs a total
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- 9/27/24 - Form 8-K
- 8/14/24 - Form POSASR
- PPWLO's page on the SEC website