Bankrupt PG&E could go up in flames as shares drop over 30%
A court ruling could put PG&E’s fate in the hands of outsiders, and perhaps wipe out the stock, in the largest utility bankruptcy in US history
10 October 2019 - 18:05
Pacific Gas and Electric (PG&E) shares have plunged as it grapples with a court ruling that threatens to put the fate of the bankrupt power giant in the hands of outsiders — and perhaps wipe out the stock.
The shares dropped as much as 32% on Thursday after US bankruptcy judge Dennis Montali, the previous day, stripped PG&E of exclusive control over its recovery process...
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