BERKELEY, Calif. (AP) - The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric's $13.5 billion settlement with victims of catastrophic wildfires may be worth far less when the beleaguered company emerges from bankruptcy.
A lawyer who represents more than 81,000 wildfire victims flagged the escalating concerns during a Wednesday court hearing. PG&E's stock has lost roughly half its value since Feb. 11 as the disease caused by the virus has paralyzed the economy.
The lawyer for the victims told a bankruptcy judge that victims now want more assurances to protect the value of their settlement.
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