PG&E’s stock climbed nearly 16% Monday after the utility provided more details about a $13.5 billion settlement with fire victims.
Even though that sounds like a lot of money, people who have suffered and lost homes or family members as a result of wildfires caused by PG&E equipment won’t immediately get a big check in the mail.
The company outlined a path out of bankruptcy that involves multiple payouts to victims that would take place over a few years.
The final tranche of the settlement would come in the form of PG&E stock which, if approved, would turn over a 21% stake of the company to fire victims.
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