August 14, 2018

New Mexico is seeking lead plaintiff status for its Public Employees Retirement Association (PERA) in a bid to recover nearly $4 million lost by the fund when Pacific Gas and Electric Company (PG&E)‘s stock took a tumble after the Northern California wildfires last year. The lawsuit alleges that PG&E misled investors about its compliance with California safety laws and subsequent risk of wildfire. NM AG

Tagged in: Misrepresentations, Securities Fraud,