<?xml version="1.0" encoding="utf-8"?> <rss version="2.0" xml:base="http://www.bottinilaw.com" xmlns:dc="http://purl.org/dc/elements/1.1/"> <channel> <title>Bottini & Bottini Inc. - Breach of Fiduciary Duty</title> <link>http://www.bottinilaw.com/lawsuit-type/breach-fiduciary-duty</link> <description></description> <language>en</language> <item> <title>Pacific Gas and Electric Corp</title> <link>http://www.bottinilaw.com/other-case/pacific-gas-and-electric-corp-0</link> <description><div class="field field-name-field-case-type field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Type of Case: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/lawsuit-type/breach-fiduciary-duty" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Breach of Fiduciary Duty</a></li></ul></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>In 2020, Bottini &amp; Bottini was retained as one of the counsel representing Justice John Trotter, Trustee of the PG&amp;E Fire Victim Trust. Justice Trotter retained Bottini &amp; Bottini to pursue claims for breach of fiduciary duty against former officers and directors of PG&amp;E Corp for damages caused to PG&amp;E due to the massive wildfires in Northern California in 2017 and 2018 -- the 2017 North Bay Wildfires and the 2018 Camp Fire. Bottini &amp; Bottini had previously filed a shareholder derivative action against PG&amp;E's officers and directors on December 24, 2018. After PG&amp;E filed for bankruptcy due to massive liabilities related to the wildfires, Justice Trotter was appointed as Trustee of the PG&amp;E Fire Victim Trust in order to pursue claims seeking compensation for the fire victims. The shareholder derivative claims originally asserted by Bottini &amp; Bottini were among the claims assigned to the Fire Victim Trust. After Bottini &amp; Bottini was retained by Justice Trotter, an amended complaint was filed on March 24, 2021 in San Francisco Superior Court asserting direct claims for breach of fiduciary duty against PG&amp;E's officers and directors. A copy of that complaint is contained below.</p> <p>On November 8, 2021, Judge Andrew Y.S. Cheng denied in substantial part Defendants' demurrer to the Amended Complaint. </p> <p>Defendants moved for reconsideration of the Court's order overruling their demurrer, and the Court denied that motion by Order dated December 16, 2021. Meanwhile, Plaintiffs had filed a Second Amended Complaint on November 18, 2021 to add additional factual details about Defendants' wrongdoing. </p> <p>Defendants filed a demurrer/motion to dismiss the Second Amended Complaint, which was heard by the Court on February 24, 2022. On April 1, 2022, the Court issued an Order overruling Defendants' demurrers in their entirety. A copy of that order is attached below. </p> <p>Defendants attempted to delay the case. For example, in March 2022 Defendants filed a motion to continue the trial date. By Order dated March 7, 2022, the Court denied that motion.</p> <p>Trial was set for August 1, 2022. Plaintiff diligently prepared the case for trial, reviewing millions of pages of documents and taking dozens of depositions. </p> <p>A settlement of $117 million was reached just a few months before trial was set to commence. </p> <p>Cathy Yanni, a spokesperson for the Fire Victim Trust, stated in announcing the settlement that "It is our hope that in holding PG&amp;E’s past officers and directors accountable in connection with the damage inflicted on thousands of fire victims in California, the current board and new leadership of PG&amp;E charts a different course where safety and the protection of customers is the central operating principle of the company. We are pleased to see early signs of a new focus on safety with PG&amp;E’s recent announcements about plans to harden infrastructure and lay power lines underground, both measures that would significantly reduce fire hazards."</p> </div></div></div><div class="field field-name-field-other-case-docs field-type-file field-label-above"><div class="field-label">Document(s):&nbsp;</div><div class="field-items"><div class="field-item even"><span class="file"><img class="file-icon" alt="" title="application/pdf" src="/modules/file/icons/application-pdf.png" /> <a href="http://www.bottinilaw.com/sites/default/files/%282021-03-24%29%20Amended_Complaint_%28PGE_LIT%29.pdf" type="application/pdf; length=1040854">(2021-03-24) Amended_Complaint_(PGE_LIT).pdf</a></span></div><div class="field-item odd"><span class="file"><img class="file-icon" alt="" title="application/pdf" src="/modules/file/icons/application-pdf.png" /> <a href="http://www.bottinilaw.com/sites/default/files/%282021-11-18%29%20REDACTED-Second_Amended_Complaint.pdf" type="application/pdf; length=1381703">(2021-11-18) REDACTED-Second_Amended_Complaint.pdf</a></span></div><div class="field-item even"><span class="file"><img class="file-icon" alt="" title="application/pdf" src="/modules/file/icons/application-pdf.png" /> <a href="http://www.bottinilaw.com/sites/default/files/%282022-04-01%29%20Order%20Overruling%20Demurrers.pdf" type="application/pdf; length=315513">(2022-04-01) Order Overruling Demurrers.pdf</a></span></div><div class="field-item odd"><span class="file"><img class="file-icon" alt="" title="application/pdf" src="/modules/file/icons/application-pdf.png" /> <a href="http://www.bottinilaw.com/sites/default/files/%282022-09-30%29%20PGE%20Fire%20Victim%20Trust%20settlement%20Law%20360%20article.pdf" type="application/pdf; length=1314919">(2022-09-30) PGE Fire Victim Trust settlement Law 360 article.pdf</a></span></div></div></div></description> <pubDate>Fri, 30 Sep 2022 20:09:16 +0000</pubDate> <dc:creator>Frank Bottini</dc:creator> <guid isPermaLink="false">167 at http://www.bottinilaw.com</guid> <comments>http://www.bottinilaw.com/other-case/pacific-gas-and-electric-corp-0#comments</comments> </item> </channel> </rss>