PacifiCorp, a utility owned by billionaire Warren Buffett's Berkshire Hathaway, said on Monday it agreed to pay $178 million to resolve claims by 403...
- PacifiCorp, a utility owned by billionaire Warren Buffett 's Berkshire Hathaway , said on Monday it agreed to pay $178 million to resolve claims by 403 plaintiffs arising from two Oregon wildfires in 2020.
PacifiCorp said the "vast majority" of plaintiffs opted out of class-action litigation where other plaintiffs are seeking at least $30 billion.The Portland, Oregon utility views that amount as excessive, but plans to continue settling "all reasonable claims." George McCoy, a lawyer at Warren Allen representing the settling plaintiffs, said the accord provides "meaningful compensation" and lets victims "rebuild and recover from these traumatic events."
Greg Abel, Buffett's expected successor as chief executive, said at Berkshire's annual meeting on May 4 that PacifiCorp will continue challenging "unfounded" wildfire litigation, and that legislative and regulatory reform to help utilities was needed.TOKYO — Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them.
Berkshire Hathaway Pacificorp Berkshire Hathaway Energy Wildfires Plaintiffs Labor Day Weekend
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