PG&E acquitted in deadly wildfire case – but far from in the clear

American utility PG&E, which is under liquidation proceedings because the company's electrical equipment was thought to be responsible for several wildfires in California in 2017 and 2018, got a small reprieve in a US court.

Photo: /Ritzau Scanpix/AP/Vern Fisher/

The Californian authorities acquitted US-based utility PG&E of being responsible for deadly fires in Tubbs, California, two years ago. A fire that killed 86 people.

After the department made the announcement, PG&E's stock soared, closing up 75 percent on Thursday. However, Friday stock retreated and fell by 15.6 percent, writes Bloomberg News.

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