Pacific Gas and Electric Corp

Bottini & Bottini is counsel for the Plaintiff in a shareholder derivative action involving Pacific Gas & Electric Corp in federal court in San Francisco. The case seeks to recover damages on PG&E's behalf and against current and former officers and directors of the Company. The complaint alleges that PG&E Corp. suffered millions of dollars of damages due to the defendants' breaches of fiduciary duty related to pipeline safety at PG&E, including a deadly 2010 explosion in San Bruno, California. PG&E was ultimately indicted for obstruction of justice and violation of federal and state safety standards by the Department of Justice, and was later convicted on several counts.

In addition to filing the shareholder derivative case, Bottini & Bottini filed a case in California state court to enforce a shareholder inspection demand which sought company documents such as board of director minutes, and which documents were related to the alleged wrongdoing by the Company's officers and directors.

In late 2016 and early 2017, the case (including several related lawsuits) was settled on highly favorable terms, including the payment of $90 million in cash by the defendants (and/or their insurance carriers) to PG&E, plus the enactment of very significant corporate governance reforms designed to avoid future harm to PG&E and its shareholders.

On July 18, 2017, the court granted final approval to the settlement agreement. A copy of the court's order can be downloaded below.