economy
Berkshire electric utility's court win could save it billions
PacifiCorp court win could reduce wildfire damages by $1 billion or more.
TL;DR
- Oregon Court of Appeals ruled PacifiCorp's argument valid regarding wildfire damage evidence for class action plaintiffs.
- The ruling sends the James class action back to trial court for reconsideration.
- Previous jury findings had held PacifiCorp liable for wildfires that caused significant property damage.
- Subsequent mini-trials awarded over $1 billion in damages to groups of plaintiffs.
- The appeals judges noted the class includes owners of over 2,000 properties damaged by fires spread over a wide area.
- Plaintiffs' lead counsel called the ruling a 'procedural setback' but maintained the jury's initial liability finding was correct.
- PacifiCorp expressed sensitivity to losses but believes the ruling supports their view of the litigation process.
- Berkshire Hathaway Energy faces a class action suit over real estate commissions despite a prior settlement by its subsidiary.
- An updated book, 'The Warren Buffett CEO,' will cover Berkshire Hathaway's transition to new CEO Greg Abel.