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Elliott Hits PG&E With New $250 Million Claim Tied to Bankruptcy -

BNN Bloomberg

(Bloomberg) -- Elliott Management Corp. is claiming PG&E Corp. cost the activist investor $250 million by breaking a promise to help the hedge fund get rights to buy equity in the utility giant during its massive bankruptcy case. PG&E was supposed to help Elliott gain access to as much as $2 billion in equity commitments, as part of a settlement struck in January to resolve competing and sometimes contentious restructuring plans, according to a court filing by Elliott...

Mentions: Management Hedge Fund lawsuit