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PG&E Spikes After a Hedge Fund Challenges its 'Damaging, Avoidable, And Unnecessary Bankruptcy'

Business Insider
  • PG&E said Monday it intends to file bankruptcy petitions under Chapter 11, in order to protect the best interests of all stakeholders.
  • Hedge fund BlueMountain Capital Management, one of its biggest shareholders, challenged its plan to seek bankruptcy protection, saying it's "damaging, avoidable, and unnecessary."
  • PG&E has seen its value plunge by 85% after last November's deadly California wildfire...
Mentions: Management Hedge Fund bankruptcy