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.-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings, Is Coinbase Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Today’s Market Volatility Could Provide Tomorrow’s Opportunities
-
40 of the Best Investment Picks
-
Tech Stock Dividends Are Changing the Face of Dividend Growth Investing
-
Roblox Earnings: Weakening Engagement Has Weighed On Growth
-
The Best Gaming Stocks to Buy
-
Energy Transfer Earnings: M&A Drives Guidance Increase In Solid Quarter
-
The Best Healthcare Stocks to Buy
-
Going Into Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?