Supreme Court reviews potential multi-billion dollar damages in PacifiCorp wildfire…
- Reports
- 3
- Developments
- 1
- Repetition
- 67%
New informationRepeats or wire copies
What happened
The Oregon Supreme Court is reviewing a verdict that could expose PacifiCorp to tens of billions of dollars in potential damages stemming from four Oregon wildfires in 2020. Residents and business owners are seeking to reverse a previous decision by a state appeals court that had eliminated $1.25 billion in awards against PacifiCorp due to an error in juror instructions. PacifiCorp denies negligence and argues that the fires were too distant to be grouped in a class-action suit.
From wkzo.com
Why it matters
The review concerns a class-action lawsuit where jurors previously found PacifiCorp at fault for all four fires. The potential verdict could create massive contingent liability for the utility and its parent companies. The lawsuit involves more than 1,000 plaintiffs who are still awaiting trial.
From wkzo.com
Who's involved
- supreme courtThe highest court in the jurisdiction reviewing the class-action lawsuit.
- PacifiCorpThe electric power company facing the class-action lawsuit over wildfire damages.
- Berkshire Hathaway EnergyThe holding company that owns the utility interests of PacifiCorp.
- Berkshire HathawayThe multinational conglomerate holding company of Berkshire Hathaway Energy.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- PacifiCorpSpeculative
PacifiCorp might face increased operating costs and financial liabilities from a massive damages verdict.
- Berkshire Hathaway EnergySpeculative
Berkshire Hathaway Energy could face financial risk transfer through its holding company structure.
Keep exploring
The entities involved
-
supreme court
highest court in a jurisdiction
-
PacifiCorp
electric power company in the western United States