NEW YORK, June 15, 2018 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against PG&E Corporation (“PG&E” or the “Company”) (NYSE:PCG) in the United States District Court for the Northern District of California on behalf of a class consisting of investors who purchased or otherwise acquired PG&E securities on the open market from April 29, 2015 through June 8, 2018, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) PG&E had failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law; (2) consequently, PG&E was in violation of state law regulation; (3) PG&E’s electricity networks would cause numerous wildfires in California; and (4) as a result, Defendants’ statements about PG&E’s business and operations were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the August 13, 2018 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
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