From Investing.com: 2024-05-04 12:45:36

Berkshire Hathaway will fight all lawsuits against its utility business related to wildfires, calling them “unfounded.” $30 billion in new claims were filed, in addition to $825 million already paid. Berkshire’s utility business has faced challenges, prompting changes like shutting off power during wildfires to reduce risks and liabilities. Utah lawmakers now allow utilities to collect surcharges for wildfire funds. Berkshire is updating systems and investing to reduce wildfire risks but will be selective with future investments in utilities.



Read more at Investing.com: Berkshire exec calls wildfire claims against utility ‘unfounded’ By Reuters