A California Newsroom analysis of federal filings found that 20 Wall Street hedge funds collectively dumped 250 million PG&E shares, and grossed at least $2 billion, after the utility emerged from bankruptcy protection last year. People whose homes were destroyed by PG&E-caused wildfires haven't fared nearly as well.
PG&E is mired in debt. Rates are skyrocketing. Tens of thousands of survivors of fires sparked by the utility s equipment are waiting for promised compensation. Amid all this, there s one group that s simply walking away: Wall Street hedge funds.
A California Newsroom analysis of federal filings found 20 Wall Street hedge funds collectively dumped 250 million PG&E shares, and grossed at least $2 billion, after the utility emerged from bankruptcy protection last year.
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