PacifiCorp Expects DOJ to Sue Over Costs Tied to California Fire
By Denny Jacob
Berkshire Hathaway unit PacifiCorp expects litigation from the Department of Justice regarding costs tied to a previous fire in California.
PacifiCorp said in January it received correspondence from the DOJ indicating its intent to litigate the matter due to the company not having paid the $356 million owed for fire suppression costs, natural resource damages and burned area response costs incurred by the U.S. Department of Agriculture Forest Service associated with the fire, according to a regulatory filing. It added that it's actively cooperating with the DOJ on resolving these alleged claims, including through the pursuit of alternative dispute resolution.
PacifiCorp said its notice from the Department of Agriculture Forest Service indicated that the alleged amount owed may not include all environmental damages to which the department and the United States may seek to recover if further action is taken. The filing notes that additional charges for interest, penalties and administrative costs may also be sought associated with the $356 million that's considered overdue.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 26, 2024 11:48 ET (16:48 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now