New Numbers Point Toward Costs PG&E Might Have to Cover

PG&E might be on the hook for fires that broke out in northern California throughout 2017-2018, including the deadliest and most damaging Camp Fire that happened in November of this past year. Now, it is alleged in recent news that PG&E will be facing at least $30 billion in liability for these wildfires. Now, the utility company is unsure of their next steps.

Though the investigation into the matter continues, there is a chance that PG&E will be on the hook for many damages, including the deaths of many, personal injuries, and property damages – including the wiping out of an entire town in Paradise, California. Now, PG&E is unsure of its next steps but the looming threat of bankruptcy is becoming all too real as the company has discussed the reality of the situation. In fact, the utility company is considering this type of protection for some or all of its business as it faces liability. With shares in stocks down at this time, PG&E is unable to keep up.

Of course, the figure in front of us sitting at an astounding $30 billion does not include aspects like penalties that could be imposed, fines, and punitive damages to those who have suffered immense harm due to the company’s actions and inactions.

The Extra Cost of Punitive Damages 

Though there are limits on punitive damages in many cases, the threat is still looming that PG&E will have this added cost that is meant to punish a company for their negligent actions. There are provable damages that can be seen and dictated based on bills that you have physically accrued, but they are instead used in excess of these types of damages. Though punitive damages are not always used in personal injury and wrongful death claims, they are used in especially reckless cases such as the negligence that arose in the California Camp Fire.

The judge or jury in the case will consider the defendant’s financial condition. They will then determine an amount that should be awarded based on this condition, being careful not to cause debt. These damages tend to be limited. In fact, in California, courts tend to limit these damages so that they do not exceed 10% of a defendant’s net worth. If the damages are reasonable, they might be awarded to those in need.

Lawsuits Being Filed to Pave the Way 

Lawsuit after lawsuit has been filed against PG&E at this point in time, accusing the utility company of negligence in the wake of the destructive wildfire. Now, dozens upon dozens of plaintiffs who have received injuries, lost loved ones, and lost their homes believe that the company is responsible for the chaos that broke out and caused so much devastation in November. It is likely that the company will be held liable, which means that these numbers are something that they will realistically have to cover, even if bankruptcy is imminent.

At the Marlene Leiva Law Group, we want to ensure that your rights are being upheld every step of the way as you go through this difficult and life-changing process. Facing large companies in the wake of any type of lawsuit can be a time of turmoil but you don’t have to stand alone. Our attorneys who are experienced in handling wildfire cases want to help you receive the compensation you deserve in your time of need and work toward your damages in a timely fashion so that you can move forward with your life. We are here for you every step of the way as you go through this difficult and life-changing process. Contact us today for more information on how we can help at 415-459-7300.