PG&E to Get Initial OK for Challenged $100 Million Settlement

PG&E Corp., its underwriters, and others will receive preliminary approval of a contested $100 million settlement with investors over its utility unit’s safety compliance before devastating California wildfires, a federal judge said in a hearing Thursday.

Judge Edward J. Davila said he would issue a written order later, according to a “minute entry” in the US District Court for the Northern District of California’s docket for the case.

A group of investors represented by Rolnick Kramer Sadighi LLP had opposed the settlement on the basis of a bankruptcy reorganization plan for PG&E and its subsidiary, Pacific Gas and Electric ...