SAN FRANCISCO (AP) — Shares in PG&E are trading at their lowest level in more than a decade with some Californians who have lost homes saying that the power company is at fault for the state’s deadliest and most destructive wildfire.
In a lawsuit filed this week, homeowners said a high voltage transmission line failed, sparking the fire. They accuse Pacific Gas & Electric Co. of failing to maintain infrastructure.
Shares in the San Francisco company plunged another 31 percent Wednesday, to $25.99. The have lost about 45 percent of their value since last week.
PG&E told state regulators last week that it experienced a problem on a transmission line just before the blaze erupted in the vicinity.
Investigators have not determined the cause of the blaze.
