PG&E Corp. Securities Litigation

***IMPORTANT CASE UPDATE***

On January 20, 2023 settlement checks were mailed to Authorized Claimants. Please contact the Claims Administrator with any questions regarding your payment.

The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action, (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.

If you are a Class Member, your legal rights will be affected by this Settlement whether you act or do not act.

Please read the Notice carefully.

IF YOU PURCHASED THE COMMON STOCK OF PG&E CORPORATION. (“PG&E”) BETWEEN DECEMBER 13, 2018 AND OCTOBER 28, 2019, INCLUSIVE (THE “CLASS PERIOD”) AND WERE DAMAGED THEREBY, YOU ARE A CLASS MEMBER.

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
SUBMIT A CLAIM FORM NO LATER THAN JULY 19, 2021	The deadline to submit a claim has passed.
EXCLUDE YOURSELF NO LATER THAN AUGUST 26, 2021	The deadline to exclude yourself from the settlement has passed.
OBJECT NO LATER THAN AUGUST 26, 2021	The deadline to object to the settlement has passed..
DO NOTHING	Get no payment. Give up rights.

The Settlement Hearing

The Court held a final fairness hearing on September 16, 2021 and granted final approval of the Settlement and Plaintiffs' motion for attorneys' fees, costs, and incentive awards. The order may be found in the Court Documents section of this website.

What is this case about?

The case is known as Christopher Vataj v. William D. Johnson, et al., Case No. 4:19-cv-06996-HSG (the “Action”), and the Court in charge of the case is the United States District Court for the Northern District of California. By Order dated February 3, 2020, the Court appointed Movants Ironworkers Local 580 Joint Funds and Ironworkers Locals 40, 361 & 417 Union Security Funds and Robert Allustiarti as Co-Lead Plaintiffs. By the same Order, the Court appointed Pomerantz LLP and The Rosen Law Firm, P.A., as Co-Lead Counsel.

The Complaint was filed on April 17, 2020, alleging violations of §10(b) by PG&E and Johnson, Williams, and Singh; and violations of §20(a) of the Exchange Act against Johnson, Williams, and Singh. Among other things, the Action is about whether the Defendants named in the Complaint violated the federal securities laws by allegedly making false and misleading statements to the investing public as set forth in the Complaint. The Complaint alleges that during the Settlement Class Period, the Defendants named in the Complaint made misrepresentations concerning PG&E’s preparation for certain de-energization events that occurred in and around October 2019.

PLEASE NOTE: This Action is different than the cases known as In re PG&E Corp. Sec. Litig., No. 18-cv-03509 (N.D. Cal.) and In re PG&E Corp. and Pacific Gas & Electric Co., Debtors, Bank. Case Nos. 19-30088/89 (DM)(Bankr. N.D. Cal.), which are not part of the Settlement and continue to be litigated.

The Settlement Benefits

The proposed Settlement will create a Gross Settlement Fund in the amount of $10,000,000.00 (Ten Million Dollars and Zero Cents) plus all interest earned thereon. The Settlement is subject to Court approval. Also, subject to the Court’s approval, a portion of the Gross Settlement Fund will be used to pay Lead Counsel’s Attorneys’ Fees and Expenses and any Award to Plaintiffs. A portion of the Gross Settlement Fund also will be used to pay (i) Taxes and Tax Expenses in respect of the Gross Settlement Fund; (ii) Notice and Administration Expenses as authorized by the Stipulation; and (iii) other fees and expenses authorized by the Court. After the foregoing deductions from the Gross Settlement Fund have been made, the amount remaining (the “Net Settlement Fund”) will be distributed to Settlement Class Members who submit valid claims.

Your share of the Net Settlement Fund will depend on, among other things: (i) the number of claims filed; (ii) the dates you purchased and sold PG&E common stock; (iii) the prices of your purchases and sales; (iv) the amount of Notice and Administration Expenses; and (v) the amount of Attorneys’ Fees and Expenses awarded to Lead Counsel by the Court and the amount of any Award to Plaintiffs approved by the Court.

Further Information

This website and the Notice summarize the Settlement. For more details regarding the Settlement please reference the Settlement Agreement, or other documents filed in the case under the “Court Documents” link on the left. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:

Claims Administrator:

PG&E Corp. Securities Litigation

Settlement Administrator

c/o A.B. Data, Ltd.

P.O. Box 173052

Milwaukee, WI 53217

Tel.: (877) 933-2882

info@PGESecuritiesSettlement.com

Co-Lead Counsel:

Louis C. Ludwig

Pomerantz LLP

10 South LaSalle St.