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Berkshire Hathaway CEO Greg Abel welcomes court decision that could limit liabilities.
An Oregon appeals court ruled a major wildfire case against PacifiCorp cannot proceed as a class action.
KEY POINTS
- PacifiCorp's potential liability from wildfire lawsuits has dropped from $55 billion after the appeals decision.
- Mini-trials awarding $1.1 billion to 171 plaintiffs will restart after the court's reset to 'ground zero.'
- California boosted its wildfire fund by $18 billion, but Oregon hasn't adopted similar utility protections.
- PacifiCorp seeks regulatory agreements allowing rate hikes in exchange for wildfire liability caps and safety plans.
COMPANIES
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