SAN FRANCISCO (Legal Newsline) – A stockholder of a San Francisco-based public utility company alleges he purchased stock at artificially inflated prices.
David C. Weston filed a complaint on behalf of others similarly situated on June 12 in the U.S. District Court for the Northern District of California against PG&E Corp., Anthony F. Early Jr, Jason P. Wells, Geisha J. Williams, Christopher P. Johns, Dinyar B. Mistry and David S. Thomason alleging violation of federal securities law.
According to the complaint, the plaintiff alleges that he suffered damages in connection with the purchase of PG&E common stock. He alleges the defendants caused him and class members to purchase PG&E stock at artificially inflated prices.
The plaintiff holds PG&E Corp., et al. responsible because the defendants allegedly misrepresented and/or omitted facts material to its true business status and financial condition.
The plaintiff requests a trial by jury and seeks compensatory damages, reasonable costs and expenses incurred in this action including counsel and expert fees. Plaintiff also seeks certification as class representative and plaintiff's counsel as class counsel, and to be granted extraordinary equitable and/or injunctive relief as permitted by law. He is represented by Rosemary M. Rivas and Eduard Korsinsky of Levi & Korsinsky LLP in San Francisco and New York.
U.S. District Court for the Northern District of California case number 3:18-cv-03509-RS