PG&E Shares Crash 50% As CEO Quits Ahead Of Bankruptcy Filing

Original post

Shares of the troubled California utility PG&E tumbled more than 30% on Monday after its CEO Geisha Williams quit, followed by the revelation made in an 8-k filing on Monday morning that the utility – which is facing potentially billions of dollars in fines related to the California wildfires – is planning to file for bankruptcy on Jan. 29.

PG&E has seen its shares plunge by more than half since November after the state opened an investigation into the utility’s

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