California

Hedge Funds Cash Out Billions in PG&E Stock. Fire Survivors Suffer and Wait.

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1 year ago

October 11, 2021

News

In this 2019 file photo, a Pacific Gas & Electric worker walks in front of a truck in San Francisco. (AP Photo/Jeff Chiu, File)

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Pacific Gas & Electric Company is mired in debt as tens of thousands of survivors of fires sparked by the utility’s equipment are still waiting for promised compensation. Amid all this, several Wall Street hedge funds have dumped their PG&E shares, with at least seven funds having sold off their entire PG&E stake.

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