Posted 2/26/2024, 11:01:00 PM
Berkshire Hathaway Faces $1B Lawsuit Over PacifiCorp's Role in Oregon Wildfires
- U.S. government threatening to sue PacifiCorp, a Berkshire Hathaway utility, for nearly $1B in wildfire costs from 2020 Oregon & California fires
- Lawsuits relate to negligence claims over PacifiCorp's failure to shut off power ahead of windstorm despite warnings
- PacifiCorp already agreed to pay hundreds of millions in other wildfire lawsuits
- With uncertain regulatory environment, Berkshire evaluating future investments in western utilities
- Warren Buffett cited disappointing utility division results and huge potential wildfire liabilities