- Pacific Gas & Electric (NYSE:PCG -1.5%) confirms that the U.S. Attorney's Office altered its allegations against the company, filing a new indictment that will replace an indictment filed in April.
- A federal grand jury yesterday charged PG&E with lying to federal investigators in connection with the 2010 fatal pipeline explosion that killed eight people and leveled a suburban Northern California neighborhood.
- The new charges expose PG&E to more than $1B in fines, after facing only a potential $6M fine under the old indictment.
- PG&E says the new charges are unwarranted and that, "even where mistakes were made, employees were acting in good faith to provide customers with safe and reliable energy."